OneBeacon Technology And RT Specialty Introduce Protocol-Based Clinical Trials Product
- Exclusive Affiliation with RT Specialty -
MINNETONKA, Minn., April 30, 2015 /PRNewswire/ -- OneBeacon Technology Insurance, a member of OneBeacon Insurance Group, announced its new "life of the clinical trial" product for North America that extends clinical trials coverage through its products-completed operations policy form for the duration of each protocol period. Exclusively available through its affiliation with R-T Specialty, LLC, this innovative approach will enable clinical trial insureds to seamlessly obtain coverage for the complete protocol period, instead of through sequential 12-month policies.
OneBeacon Technology Vice President Todd Lauer said, "We're excited to bring this capability to the North American life sciences industry. Our European counterparts have been offering similar coverage for many years, so there is extensive experience using this approach. Our medical technology specialists, in partnership with RT Specialty's life sciences team, believe this innovation addresses a significant gap for this customer group."
Added RT Specialty Senior Vice President Mike Garofalo, "Partnering with OneBeacon Technology is the perfect fit to tap into their capabilities and expertise for North American life of the clinical trial coverages. This is a unique opportunity for clinical trial sponsors to craft global symmetry for their clinical trial exposures."
The policy will be written on a nonadmitted basis with a $5 million maximum coverage limit. In addition, OneBeacon offers dedicated medical technology risk control and claims services.
Agents and brokers interested in additional information regarding the product should contact their local RT life science broker, or email us at [email protected].
About OneBeacon Technology Insurance: OneBeacon Technology Insurance solely focuses on the technology industry, making it a specialized source for technology insurance products and risk management expertise. Through its dedicated team of technology insurance professionals, it provides integrated and seamless insurance solutions and services for all aspects of the technology industry. For further information visit: www.onebeacontech.com.
About OneBeacon: OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled holding company that is publicly traded on the New York Stock Exchange under the symbol "OB." OneBeacon's underwriting companies offer a range of specialty insurance products sold through independent agencies, regional and national brokers, wholesalers and managing general agencies. Each business is managed by an experienced team of specialty insurance professionals focused on a specific customer group or industry segment, and providing distinct products and tailored coverages and services. OneBeacon's solutions target group accident; commercial surety; crop; design professionals; entertainment; environmental; excess property; financial services; healthcare; management liability; ocean and inland marine; programs; public entities; technology; and tuition refund; . For further information about our products and services visit: www.onebeacon.com and to remain up to date on OneBeacon's news, follow us on Twitter @OneBeaconIns or visit our online newsroom: www.onebeacon.com/newsroom.
About Ryan Specialty Group, LLC and R-T Specialty, LLC: Ryan Specialty Group, LLC is a global holding company which includes wholesale broker R-T Specialty, LLC, a select group of highly-specialized underwriting companies, a London operation and other specialty services designed specifically for agents, brokers and insurers. www.ryansg.com and www.rtspecialty.com .
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This news release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included or referenced in this news release that address activities, events or developments which we expect will or may occur in the future are forward-looking statements. The words "will," "believe," "intend," "expect," "anticipate," "project," "estimate," "predict," "anticipate" and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, among others, statements with respect to OneBeacon's:
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These statements are based on certain assumptions and analyses made by us in light of OneBeacon's experience and judgments about historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual results and developments will conform to our expectations is subject to a number of risks, uncertainties or other factors which are described in more detail that could cause actual results to differ materially from expectations, including:
- claims arising from catastrophic events, such as hurricanes, windstorms, earthquakes, floods, or terrorist attacks;
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- our status as a subsidiary of White Mountains, including potential conflicts of interest;
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- other factors, most of which are beyond our control, including the risks that are described from time to time in OneBeacon's filing with the Securities and Exchange Commission, including but not limited to OneBeacon's Annual Report on Form 10-K for the fiscal year ended December 31, 2014 filed February 27, 2015.
Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements, and there can be no assurance that the anticipated results or developments will be realized or, even if substantially realized, that they will have the expected consequences. OneBeacon assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE OneBeacon Insurance Group, Ltd.
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