LS Prime® Advantage
A new admitted insurance solution for Products, Clinical Trial and Professional Liability Exposure
Life science companies today face many new challenges – from navigating complex regulatory schemes to designing lifesaving and life-enhancing products incorporating the latest scientific and technological advancements.
Berkley Life Sciences exclusively serves the insurance needs of the life science community. For over a decade, we have stood firm as a trusted partner for life science companies seeking to innovate and grow.
Our flagship product, LS Prime®, is an essential tool carefully crafted to help life science companies intelligently manage their ever-changing risks.
Our writing companies are rated A+ by AM Best, providing our customers with the financial assurance they need to operate with confidence.
Whether a life science company is in the preclinical stage – or a Fortune 1000 company with numerous products on the market – our scalable insurance offering addresses the emerging issues faced by life science companies of all sizes.
LS Prime® Advantage Key Coverages
Products Completed Operations Coverage
- Worldwide liability and defense coverage for companies selling their products in the U.S. and globally, and for service organizations working on behalf of their life science clients.
Clinical Trials Liability Coverage
- Broad, blanket clinical trial coverage available, including personal and advertising injury liability, abuse and molestation liability, medical monitoring coverage, and no-fault medical expense
- Worldwide coverage territory is standard. Locally admitted policies are also available in numerous countries.
First Party Product Withdrawal for Class I Recalls
- Comprehensive expense coverage to help mitigate the risk posed when products are the subject of Class I Recalls.
Errors & Omissions Liability Coverage for Economic Injury
- Broad, simplified third-party liability and defense coverage for economic damages faced by medical product and service organizations, including contract manufacturing organizations, contract research organizations, and telemedicine providers.
Enhanced Cyber, Privacy and Data Protection Coverage
- Broad, comprehensive Data Security and Privacy Liability and First Party Coverage offered to address theft, loss, or unauthorized access to proprietary clinical trial and other corporate information, trade secrets, PII, and genetic information.
- Includes access to Breach Hotline staffed 24/7 by preeminent Breach Counsel.
Additional Key Features
- With “ease of doing business” in mind, LS Prime® Advantage was designed with important coverages and features automatically incorporated.
- Features may be standard insurance “checklist” items, and others are unique to the life sciences.
- Automatic batching for defined critical facts - extends for seven years beyond the coverage relationship.
- Provides batch protection for insureds facing a "mass litigation risk" and other specifically defined events or circumstances.
- Medical Monitoring coverage automatically included for both products and clinical trial risks at full limits.
- Expanded bodily injury definition includes coverage for mental anguish without physical injury.