ACE Expands Products to Respond to Unique Needs of Life Sciences Companies

ACE Group today announced that the ACE Medical Risk Group has enhanced its Life Sciences capabilities to include a commercial package offering comprised of general liability, inland marine, crime, umbrella liability and business automobile coverages to help address the unique needs of life sciences companies. The enhanced ACE Life Sciences Commercial Package Policy provides higher limits and is offered in conjunction with ACE’s products-completed operations liability offerings for U.S.-based life sciences companies.

“Today’s life science companies need business partners who can provide comprehensive solutions for the daily risks and challenges they face,” said Tristan Gabriel, Senior Vice President, ACE Medical Risk Group. “Enhancing our comprehensive package with additional coverages and increased limits allows us to round out our insurance program to meet the unique needs of our life sciences customers.”

“As a result of current growth in the life sciences market, and with the rapid advances in science and technology relating to clinical trials, it is critical for ACE to offer our customers effective risk management strategies in addition to a complete insurance solution,” said Caroline Clouser, Executive Vice President, ACE Medical Risk Group.

Key features of ACE’s Life Sciences Commercial Package Policy available include:

• Property (with Business Income option)
• Inland Marine coverages
• Crime
• Equipment Breakdown
• General Liability
• Business Automobile
• Umbrella Liability

ACE offers flexible global solutions for the risks and exposures that life sciences companies face. With a highly trained and experienced staff, ACE takes a strategic approach to underwriting, offering specialty liability products focusing on biotechnology, specialty pharmaceutical, medical device companies and human clinical trials.

ACE Medical Risk Group, a business division of ACE USA, provides primary and excess medical professional liability for hospitals, miscellaneous healthcare facilities, and managed care errors and omissions coverage. In addition, ACE offers products-completed operations liability for clinical trials, biotechnology, and specialty pharmaceutical companies, as well as a package policy that includes property, auto and crime coverages through its Life Sciences unit. To learn more about ACE’s Medical Liability products and services, please visit our website. Insurance is provided by ACE American Insurance Company, Philadelphia, PA, and in some jurisdictions, other insurance companies within ACE Group. All products may not be available in all jurisdictions. The product information above is a summary only. The insurance policy actually issued contains the terms and conditions of the contract.

ACE Group is one of the world’s largest multiline property and casualty insurers. 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 ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. Additional information can be found at: www.acegroup.com.