Sompo launches new life sciences team under OneBeacon's Todd Lauer

Bermuda-based specialty re/insurer Sompo International Holdings is targeting the life sciences industry with its new insurance offering to be led by senior vice president Todd Lauer.

Sompo Global Risk Solutions (GRS) has formed a new team comprising of dedicated underwriting, risk control and claims professionals experienced in managing risks in the life sciences industry.

The team will target small and middle market life sciences organisations, including manufacturers, contract manufacturers and service organisations, laboratories, research and development facilities, and clinical monitoring and site management firms.

Lauer joins Sompo GRS with 20 years of experience in life sciences underwriting, including leadership roles with OneBeacon, Chubb and CNA.

As senior vice president of MedTech and Life Sciences for OneBeacon Technology Insurance, he led a multidisciplinary team of actuarial, claims, finance, legal, risk control, support and underwriting professionals focused on the sector. He has also served as life sciences underwriting director for CNA Insurance, and life sciences specialist and underwriting officer for Chubb, responsible for the company’s life science insurance programmes across the midwestern US.

Based in the company’s Chicago office, Lauer will report to Sompo GRS CEO Michael Chang.

Chang said: “The launch of our new team focused on the life sciences industry builds on our extensive experience serving clients in select industry vertical markets. We are extremely pleased to welcome Todd to lead our Life Sciences team which has the deep industry knowledge and technical expertise necessary to service the specialized insurance needs of clients in this dynamic sector.”

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