Acadia Insurance Partners with Berkley Life Sciences to Launch New Insurance Solution
WESTBROOK, Maine (June 17, 2013) – Acadia Insurance announced today that it is partnering with Berkley Life Sciences to offer a comprehensive insurance solution for the unique exposures faced by life science businesses throughout New England and New York.
“Businesses in the life science industry face unique exposures. For this reason it can be extremely challenging to assign a dollar value to the work these businesses conduct, such as the value of research lost or destroyed,” said Susan Grady, Chief Underwriting and Marketing Officer, Acadia Insurance. “Combining the expertise of Berkley Life Sciences with Acadia’s local service model provides life science businesses with a partner that can help them manage their exposures, prevent loss and truly understand the value of their property.”
In the event of a covered cause of loss, the Acadia/ Berkley Life Sciences solution can provide coverage for a wide range of exposures, including:
- Valuable equipment that has been damaged
- Research materials and records that have been damaged or destroyed
- Finished products that have been compromised or destroyed
- Perishable goods that are spoiled
- Products liability and completed operations
- Robbery or theft
- Damages resulting from personal advertising injury
- Employees injured while at work
Acadia and Berkley Life Sciences are offering this solution to the following qualifying entities: private and non-profit research organizations; non-manufacturing pharmaceutical developers; dietary supplements manufacturers; medical device manufacturers; pharmaceutical manufacturers; cosmetic drug manufacturers; and biotech/biologic manufacturers.
The offering is available through all independent agents who represent Acadia Insurance and is subject to applicable underwriting guidelines and policy terms and conditions. To learn more about the Acadia/Berkley Life Sciences solution, please contact your local Acadia agent or visit www.acadiainsurance.com.
For insight on the latest tips and trending topics within the commercial property casualty insurance industry, visit Acadia’s blog at www.acadiainsurance.com/blog.
About Acadia Insurance
Acadia Insurance Group is a regional company offering commercial and specialty property casualty insurance coverages through independent insurance agents with local offices in Connecticut, Maine, Massachusetts, New Hampshire, New York and Vermont. Rated A+ (Superior) by A.M. Best, Acadia Insurance is a subsidiary of W. R. Berkley Corporation (NYSE: WRB), one of the nation’s premier commercial lines property casualty insurance providers, and one of the 50 largest diversified financial companies in the United States. Please visit www.acadiainsurance.com.
About Berkley Life Sciences
Berkley Life Sciences, a member company of W. R. Berkley Corporation, is solely dedicated to serving the needs of the life science industry, providing sophisticated, innovative insurance products and services to life science customers of all sizes. Please visit www.berkleyls.com