Google+
Language
Search

Prop65News

Covering Proposition 65 News and Events Since 1987




Life Science Risk Introduces Proposition 65 Insurance for Dietary Supplement Producers

Life Science Risk Introduces Proposition 65 Insurance for Dietary Supplement Producers

Author: Jack Schatz/Tuesday, April 11, 2017/Categories: U.S NEWS, Prop65

Rate this article:
No rating



LifeScienceRisk (LSR)  a Chicago-based insurance company today announced that is introducing a proprietary Proposition 65 coverage for the Dietary Supplement industry. LSR is the first to deliver this specialty insurance product, offering tailored coverage by a separate insurance policy that can be bundled with LSR's Core Liability coverages.

The stand alone Proposition 65 (Prop 65) coverage includes six chemical elements that may be found in dietary supplements and herbal products.  LSR provides a full-service platform for this inventive coverage, which includes client specific service, tailored coverage forms, and collaborative risk assessment. Prop 65 coverage was developed in collaboration with Lloyd's syndicates who represent AM Best Security of "A+XV" and is distributed through select retail and wholesale brokers who recognize their client's risk in this evolving space.

Mark Wood, President of LifeScienceRisk, commented, "I am thrilled to introduce this essential coverage to the dietary supplement industry. The team at LSR conducted extensive research to understand, develop and create a specialty insurance solution to meet an expressed need for our clients in this space." 

LSR worked with Lloyd's to introduce this new coverage to the marketplace with a choice of limits and deductibles that can fit almost any budget. LSR has the underwriting experience and the resources to work with innovative start-up ventures to large, sophisticated companies with global operations.

It has been difficult for companies to obtain liability insurance for potential Proposition 65 lawsuits or liability.  In the past few years, a few insurance companies have attempted to offer coverage to specific industries such as Wells Fargo, which introduced coverage to plastics companies for potential exposures to phthalates early last year.  

LifeScienceRisk is a series company of RSG Underwriting Managers, LLC. LSR specializes in underwriting and providing Product Liability, Error and Omission Liability, General Liability and Cyber Liability for Life Science companies engaged in discovery, development, manufacturing, distribution and promotion of products comprising Pharmaceuticals, Medical Devices, Biotechnology and Dietary Supplements, as well as compounds and medical devices in Human Clinical Trials. www.lsrisk.com

For more information please contact Michael Garofalo, Product Development Director, LifeScienceRisk.

Mike.Garofalo@lsrisk.com, 312.366.3158
Print

Number of views (707)/Comments (0)

Jack Schatz

Jack Schatz

Other posts by Jack Schatz
Contact author

Please login or register to post comments.

Name:
Email:
Subject:
Message:
x

Filter:

Sort by:

Filter by Authors

Proposition 65 Regulations

Implementing Regulations
Prop 65 Made Simple
FAQs
Prop 65 Appellate Opinions
Statute

Proposition 65 Law Firms and Experts


            List Your Company Now!

MoFo-Logo636136432680764777


Prop 65 Chemicals
Proposition 65 Chemical List 
Safe Harbor Levels
Chemicals Under Consideration

 

Proposition 65 Handbook 2013 Edition
The Proposition 65 Handbook - 2017 Edition is available for immediate shipment.
To learn more about the latest edition of this indispensable desk reference    
click here.



image

Terms Of UsePrivacy StatementCopyright 1987 - 2017 Cornerstone Publishing, LLC