Berkshire Hathaway Specialty Insurance (BHSI) has launched a new Management Liability Insurance Policy specifically designed for Life Science, BioTech, and Pharmaceutical (LBP) companies in Australia. The policy reflects BHSI’s commitment to supporting Australia’s thriving life sciences community and addresses the unique challenges faced by start-ups in the industry.
According to Jessica Jefferies, Underwriting Manager for National Brokers, Executive & Professional Lines at BHSI Australia, “The new LBP Management Liability Policy reflects our deep understanding of the challenges start-ups face at every stage of their journey.” The policy offers enhanced coverage tailored to life sciences companies, including protection for private capital raisings and coverage in the event of company insolvency.
Key Features of the Policy
- Enhanced cover for directors, officers, and scientific advisory boards
- Protection for private capital raisings
- Coverage in the event of company insolvency
- Extension of protection to U.S. exposures, recognizing the frequent pursuit of FDA approvals by Australian firms
The new policy expands BHSI’s existing Management Liability policy wording for private companies and not-for-profits. As a leading market for Directors and Officers Liability insurance for ASX-listed life sciences companies in Australia, BHSI is well-positioned to support biotech and pharmaceutical customers from start-up to scale.
For more information, contact [email protected].
