Americas

LIO Specialty Launches Revolutionary Online Portal for Life Science Insurance Solutions

Image

Leading the Excess and Surplus Lines Market with Innovative Coverage for Cannabis and Nutraceutical Industries 

West Conshohocken, PALIO Specialty Insurance Company proudly announces the launch of its state-of-the-art online portal. This innovative platform is set to transform the insurance process for wholesale brokers, offering the ability to quote, bind, and issue policies in a matter of minutes.

Exclusive Technology for Efficient Insurance Processing

LIO Specialty’s technology streamlines the insurance process, making it exceptionally efficient for brokers to serve their clients. This technology positions LIO Specialty at the forefront of the Excess and Surplus Lines marketplace.

Specialized Offering for Cannabis and Nutraceutical Industries

The company introduces a unique passthrough casualty product, specifically designed to cater to the burgeoning cannabis and nutraceutical sectors. This product encompasses:

●      Cannabis Industry: With a minimum premium starting at $2,500, coverage extends to cultivators/growers, manufacturers and processors, dispensaries, retail stores, distribution, and cannabis delivery.

●      Nutraceutical Industry: Tailored for businesses in the nutraceutical sector, the minimum premium beginning at $2,000, covering a range of products including bodybuilding supplements, body cleansers, compounded and non-compounded herbs, energy supplements and drinks, protein supplements, sexual enhancement products, and vitamins.

Comprehensive Coverage with Proprietary Forms

LIO Specialty utilizes a proprietary coverage form, offering:

●      Products/Completed Operations coverage on a Claims-Made basis.

●      Premises/Operations coverage on an Occurrence basis.

Additionally, clients can choose from various other coverage form options to suit their specific needs.

Enhanced Coverage Options

Clients benefit from an array of coverage enhancements, including:

●      Security Breach Expense Reimbursement.

●      Employee Benefits Liability.

●      Hired and Non-Owned Auto Liability.

●      Stop Gap Employers Liability.

●      Worldwide Coverage.

●      Primary and Non-Contributory AIs.

●      Waiver of Subrogation.

●      Limited Product Withdrawal Expense.

About LIO Specialty Insurance Company

Founded in 2022 and rated A- VIII by AM Best, LIO Specialty is committed to blending deep insurance expertise with cutting-edge digital capabilities. The company aims to redefine the insurance purchasing experience, making it faster, easier, and more intuitive for specialized insurance policies.

Contact Information:

Justin Bauersachs – AVP, Life Science and Product Liability

804-357-9304

Justin.Bauersachs@lioinsurance.com

Kyle Powal EVP

312-450-4790

kyle.powal@lioinsurance.com

Steve Schell SVP

646-787-6152

steve.schell@lioinsurance.com

Trending
Share this Post:
Posted by IRL Editor

Advertisement

ad ad

Related articles

Patrick Rastiello joins Ardonagh Specialty to lead North America Reinsurance expansion

Ardonagh Specialty has appointed Patrick Rastiello as CEO* of its North American reinsurance operations.   Patrick will be responsible for building Ardonagh Specialty’s US reinsurance...

Global Markets Overview: February 2024

In this Global Markets Overview, we explore our global outlook and share what we think it means for 2024.  https://www.wtwco.com/en-gb/insights/campaigns/global-markets-overview As...

EAMONN CUNNINGHAM WINS RIMS HARRY & DOROTHY GOODELL AWARD

Risk Management Trailblazer Presented with RIMS Highest Honor for Lifetime Achievement in Risk Management  NEW YORK (February 13, 2024) – At the RIMS New Zealand and Pacific Island...

Insurer’s Lease More Than Doubles Its Chicago Office Space

Sompo International Plans Move to 46-Story Tower at 155 N. Wacker A global specialty insurance provider is more than doubling the size of its Chicago office in a move a few blocks north, bucking the trend...

Haynes and Boone, LLP is pleased to announce that Peter A. Halprin has joined the firm as a Partner

Haynes and Boone, LLP is pleased to welcome Insurance Recovery Partner Peter A. Halprin to the firm’s New York City office. A Chambers USA-ranked attorney, Peter joins from Pasich LLP, where...

LIO Specialty Launches Revolutionary Online Portal for Life Science Insurance Solutions

Leading the Excess and Surplus Lines Market with Innovative Coverage for Cannabis and Nutraceutical Industries  West Conshohocken, PA– LIO Specialty Insurance Company proudly announces the launch...