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LifeScienceRisk Introduces Proposition 65 Coverage for the Dietary Supplement Industry

LifeScienceRisk Introduces Proposition 65 Coverage for the Dietary Supplement Industry2017-05-12T01:45:35-05:00

April 10, 2017, CHICAGO, IL
LifeScienceRisk (LSR) announced today 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 standalone Proposition 65 (Prop 65) coverage includes six chemical elements that may be found in dietary supplement 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, “Today 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 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.

For more information please contact Michael Garofalo, Product Development Director, LifeScienceRisk, 312.366.3158


About LifeScienceRisk

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.

About RSG Underwriting Managers

RSG Underwriting Managers, LLC (RSGUM) is the managing general underwriting division of RSG and consists of a series of specialty property and casualty managing general underwriters (MGU). Each MGU provides expertise in distinct challenging market niches. RSGUM provides centralized governance, shared services, and executive oversight to its specialty underwriting businesses.  In California: RSG Insurance Services, LLC, Lic. #0E50879.

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Life Science Risk is a series of RSG Underwriting Managers, LLC. RSG Underwriting Managers is a Delaware series limited liability company and a subsidiary of Ryan Specialty Group, LLC, specializing in underwriting management and other services for insurance products distributed through agents and brokers. In California: RSG Insurance Services, LLC License # 0E50879 ©2021 Ryan Specialty Group, LLC

LifeScience International is a tradename of RSG Underwriting Managers Europe Limited. Registered office is 30 St. Mary Axe, 13th Floor, London, EC3A 8BF. Company number 07164987. RSG Underwriting Managers Europe Limited is authorised and regulated by the Financial Conduct Authority. LifeScience EEA is a trading name of Ryan Specialty Group Sweden AB. Registered office is Ingmar Bergmansgata 2, 114 34 Stockholm, Sweden. Org nr 556741-6572. Ryan Specialty Group Sweden AB is authorized by the Swedish Financial Services Authority.

RSG Underwriting Managers, LLC, RSG Underwriting Managers Europe Limited and Ryan Specialty Group Sweden AB are subsidiaries of Ryan Specialty Group, LLC.