Berkshire Hathaway Specialty Insurance announced Thursday that it is expanding its underwriting capabilities to address life sciences industry risks and has named John Parente to head the area.
The expansion targets a range of life sciences product liability risks, including medical devices, nutraceuticals, generic pharmaceuticals, compounding pharmacies and clinical trials, according to a statement, and Berkshire will be offering capacity of up to $25 million.
Parente previously served as senior science advisor and chief innovation officer at Lexington Insurance Co. Before moving into the insurance industry, he was pharmaceutical development manager at a global biotechnology company and staff scientist at a global pharmaceutical company. He holds a master’s degree and Ph.D. in Nutritional Biochemistry from the University of Georgia and received a bachelor’s degree from the University of Vermont.
Source: Berkshire Hathaway Specialty Insurance