ACE Expands Life Sciences Coverage through its Wholesale Division

PHILADELPHIA--(BUSINESS WIRE)--

ACE Group today announced the expansion of its suite of products developed to address the needs of U.S.-based life sciences companies through its wholesale-focused business, ACE Westchester Professional Risk. The ACE Westchester Professional Risk Life Sciences policy addresses the unique exposures faced by life sciences companies, offering domestic and global product liability, and providing coverage for clinical trials, including biotechnology, specialty pharmaceutical, and non-implantable medical device organizations.

The Life Sciences capability continues to expand the medical coverage options offered through ACE. While this coverage has been available within the retail sector of ACE for more than 10 years, this is now expanded to be offered by ACE Westchester, where the focus is on product distribution through wholesale brokers.

“ACE's longstanding leadership role in the Life Sciences arena will allow us to continue to respond to an ever-changing marketplace with flexibility and innovation,” said Randi Goldberg, Vice President, ACE Westchester Professional Risk. “We continue to offer the extensive product knowledge and underwriting expertise that has always distinguished ACE, but with the added value of an approach tailored to the wholesale market.”

Key highlights of ACE Westchester's Life Sciences Program:

• Global solutions for U.S.-based life sciences companies, including those conducting clinical trials overseas. Coverage includes:
  • Products-completed operations and professional liability coverage including worldwide coverage where needed with locally admitted policies where required
  • The ability to add locally admitted policies (where required) in more than 140 countries, worldwide
  • Package policy that includes property, auto and crime coverage, written in conjunction with the above
• Policy Limits
  • Domestic clinical trials: Up to $15 million in capacity for sponsors of human clinical trials
  • Foreign clinical trials: Up to $35 million combined limits
• Client Profile
  • Sponsors of human clinical trials, biotechnology companies, pharmaceutical companies, non-implantable medical device manufacturers

ACE Westchester is the wholesale-focused business of ACE Group, which is one of the world's largest multiline property and casualty insurers. For more information about ACE Westchester, please click here. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident, supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange ACE and is a component of the S&P 500 index. Additional information can be found at: www.acegroup.com or follow ACE on Twitter, https://twitter.com/ACE_GroupNA.