WEST CONSOHOCKEN, PA — LIO Specialty Insurance Company, a key player in the insurance industry, recently announced an expansion of its online platform to include a new Product Liability offering. This addition is tailored specifically for the manufacturing and distribution sectors, marking a strategic move to broaden its suite of insurance solutions.
Justin Bauersachs has been appointed as Assistant Vice President of Life Sciences and Products Liability to spearhead this new underwriting unit. Bauersachs, who joined LIO Specialty in April 2023, brings a wealth of experience from his tenure at Kinsale Insurance Company, where he honed his skills in products liability underwriting over six years.
The launch of the Product Liability offering signifies LIO Specialty’s dedication to innovation and its commitment to meeting the evolving needs of its wholesale partners. “Our expansion into the products liability market is a testament of our commitment to providing innovative insurance solutions to our wholesale partners,” said Kyle Powal, Executive Vice President of LIO Specialty. He further highlighted the company’s unique position in the market, leveraging Bauersachs’ expertise and cutting-edge technology to offer cost-efficient solutions.
This new service is available to all appointed wholesale partners of LIO Specialty, providing them with access to specialized insurance coverage that addresses the specific risks associated with manufacturing and distribution activities.
LIO Specialty’s move into product liability insurance comes at a time when businesses are increasingly seeking comprehensive coverage options to protect against a range of potential liabilities. By tapping into this demand with a targeted offering, LIO Specialty aims to establish itself as a go-to provider for businesses operating within these sectors, reinforcing its reputation for flexibility, innovation, and expertise in the insurance landscape.
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