Device/drug catastrophic liability insurance risk pool offered by Capital Risk Strategies.
This article was originally published in The Gray Sheet
PRODUCT LIABILITY CATASTROPHIC CLAIM INSURANCE RISK POOL OF $4 BIL. is being offered by Capital Risk Strategies of New York City to the medical device and pharmaceutical industries as an addition to self-insuring. The idea behind the finite risk insurance is shared limits for product liability suits with long-term coverage of 10 years. Capital Risk is providing $1.6 bil. through the sale of future premium receivables as a structured finance vehicle in the capital markets. The remainder of the funding is being provided by reinsurers.
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