Sompo Global Risk Solutions, a subsidiary of Sompo International offering multiline capabilities targeted at select industries, has created a team offering insurance solutions for life sciences, and appointed Todd Lauer as senior vice president and head of the team.
Sompo GRS' life sciences team offers a range of primary property/casualty products including product liability, clinical trial liability, property, auto, workers’ compensation, environmental and products related errors & omissions (E&O) coverage for contract research organisations, clinical trials, and medical device, pharmaceutical and biotechnology companies.
The team will focus on small and middle market life sciences organisations, including manufacturers, contract manufacturers and service organisations, laboratories, research and development facilities, and clinical monitoring and site management firms.
"The launch of our new team focused on the life sciences industry builds on our extensive experience serving clients in select industry vertical markets," said Michael Chang, CEO of Sompo GRS. "We are extremely pleased to welcome Todd to lead our Life Sciences team which has the deep industry knowledge and technical expertise necessary to service the specialised insurance needs of clients in this dynamic sector."
Lauer joins Sompo GRS from OneBeacon Technology Insurance, where he was senior vice president of medtech and life sciences.
Prior to that Lauer has also held leadership roles at Chubb and CNA.
Sompo, Life sciences, Appointment, Bermuda