Travelers to launch product liability coverage for life sciences companies

Travelers Cos. Inc. announced Tuesday that it will launch product liability coverage for life sciences companies.

The insurer said Travelers Synergy will cover medical technology, pharmaceutical, biopharmaceutical and digital health companies for losses due to product or work-related bodily injury or property damage, with up to $25 million in limits available.

Additional coverages will include errors and omissions liability, product recall expenses, and medical expenses for bodily injury occurring during clinical trials, regardless of fault.

The coverage will be available in most states from April 1.