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Everest Insurance, a unit of Bermuda-based insurer and reinsurer Everest Re Group Ltd., said Wednesday it has expanded its life sciences product to include property, commercial auto and workers compensation coverage, adding to its existing primary product liability offering.
In a statement, New York-based property/casualty and specialty insurer Everest Insurance said the multiline package policy is designed to address unique exposures, including bio-contamination and business interruption, found in the life sciences property, auto and workers compensation areas.
Andy Faber, head of life sciences at Everest Insurance, told Business Insurance the insurer would offer limits up to $1 million on auto, $100 million on property and $10 million on products.
Everest Insurance launched its life sciences practice in 2017. The insurer’s primary product liability coverage can be customized to offer a suite of extensions, including products recall, crisis management and manufacturer’s errors and omissions financial loss.
Everest Specialty Underwriters, a unit of the Everest Re Group Ltd., on Thursday said it is introducing a private company management liability policy with eight lines of coverage, including directors and officers liability.