Berkshire Hathaway Specialty Insurance Launches Life Science, BioTech & Pharmaceutical (LBP) Management Liability Policy in Australia

Business Wire

BOSTON & SYDNEY--(BUSINESS WIRE)--
Berkshire Hathaway Specialty Insurance (BHSI) today announced the introduction of a Management Liability Insurance Policy tailored expressly for Life Science, BioTech and Pharmaceutical (LBP) companies in Australia.

“The new LBP Management Liability Policy reflects our commitment to Australia’s thriving life sciences community and our deep understanding of the challenges start-ups face at every stage of their journey,” said Jessica Jefferies, Underwriting Manager, National Brokers, Executive & Professional Lines, BHSI Australia. “Life Sciences is one of the most promising industries in Australia and we are thrilled to be able to provide an innovative solution to support the industry”.

BHSI’s new LBP Management Liability Insurance Policy is specifically for the R&D ecosystem – all stakeholders in Australia’s diverse and energetic life sciences sector.

The new product offers enhanced cover tailored for life sciences companies, with coverage not found in standard Management Liability policies. BHSI’s solution will extend cover and ensure Directors, Officers, Scientific and Medical Advisory Boards all get the benefit of cover as they develop cutting-edge solutions globally. With an understanding of the funding requirements, the product provides two key elements of protection, extending cover for private capital raisings, and not excluding cover in the event of the Company’s insolvency. With many Australian life sciences companies looking abroad for clinical development, BHSI’s offering has the ability to extend protection to U.S. exposures, recognising the frequent pursuit of FDA approvals by Australian firms.

The new solution expands BHSI’s existing Management Liability policy wording for private companies and not-for-profits.

BHSI is a leading market for Directors and Officers Liability insurance for ASX-listed life sciences companies in Australia. This launch extends that expertise and forms part of BHSI’s strategy to provide tailored support for biotech and pharmaceutical customers from start-up to scale. To learn more, contact [email protected].

Berkshire Hathaway Specialty Insurance Company (incorporated in Nebraska, USA) ABN 84 600 643 034, AFS Licence No. 466713 (www.bhspecialty.com) provides commercial property, casualty, healthcare professional liability, executive and professional lines, transactional liability, surety, marine, travel, programs, accident & health, medical stop loss, homeowners, and multinational insurance. The actual and final terms of coverage for all product lines may vary. Berkshire Hathaway Specialty Insurance Company holds financial strength ratings of A++ from AM Best and AA+ from Standard & Poor’s. Based in Boston, Berkshire Hathaway Specialty Insurance has offices in Atlanta, Boston, Chicago, Columbia, Dallas, Houston, Indianapolis, Irvine, Los Angeles, New York, Plymouth Meeting, San Francisco, San Ramon, Seattle, Stevens Point, Adelaide, Auckland, Barcelona, Brisbane, Brussels, Calgary, Cologne, Dubai, Dublin, Frankfurt, Hamburg, Hong Kong, Kuala Lumpur, London, Lyon, Macau, Madrid, Manchester, Melbourne, Milan, Munich, Paris, Perth, Singapore, Stockholm, Sydney, Toronto, and Zurich.