OneBeacon Introduces Modular Medical Technology Product for Life Science Risks

May 22, 2018

PLYMOUTH, Minn. (May 22, 2018) – OneBeacon Technology Insurance, a member of OneBeacon Insurance Group, has introduced a modular medical technology product/ professional liability policy – Medical Technology Solutions – tailored to address life science companies’ exposure to products / completed operations, cybersecurity and communication liability risks. Through its menu-driven approach, customers can customize their solution from among a broad array of first- and third-party coverages with a common set of definitions, conditions and exclusions.

OneBeacon Technology Insurance President Mary Fisk-Bieker said, “We’re excited to introduce our new MedTech Solutions product, which offers customers the opportunity to secure today’s broad range of liability coverages bundled in a single policy. And given its modular approach, fewer endorsements are required in order to achieve a comprehensive insurance program.”

Added OneBeacon’s medical technology practice leader Todd Lauer, “Besides the convenience of a first- and third-party liability all-in-one product, MedTech Solutions includes access to 24/7 data breach services, including an incident reporting hotline. And consistent with our specialty approach, our dedicated technology risk control specialists are available for consulting and to help develop risk mitigation plans as an extension of our offerings.”

Medical Technology Solutions is a claims-made product written on an admitted basis and is already available in most states. International coverages are additionally available. Agents and brokers interested in additional information about Medical Technology Solutions should contact their local OneBeacon partners or visit www.onebeacontech.com.