From Yahoo Finance: 2025-06-16 06:01:00

Munich Re Specialty-North America (MRS-NA) introduces a new life science insurance division, offering coverage for various sectors like animal health, clinical trials, and pharmaceuticals. Their liability coverage includes medical product defects, errors and omissions, premises liability, cyber and tech E&O coverage, and medical professional liability.

Led by senior vice-president James Craig, MRS-NA’s life science team provides primary and excess coverage nationwide. The division, part of the Healthcare group in Excess & Surplus Lines, aims to offer flexible, tailored coverages for the evolving medical and biotech sectors. Backed by Munich Re Group, the division meets real-world client needs competitively.

In a strategic move, Munich Re Specialty divested GJW Direct to Ripe, focusing on expanding their healthcare portfolio with the new life science division. The company aims to serve the niche market effectively while enhancing their capabilities in the healthcare sector. The division is a response to brokers seeking smarter insurance solutions for today’s medical advancements.

Read more: Munich Re Specialty unveils new life science insurance division