Munich Re, Marsh seeking ‘next blockbuster’ with pharma coverage

Munich Re and Marsh & McLennan Cos. introduced a product to insure U.S. pharmaceutical companies against regulatory actions that could cause them to suspend manufacturing.

By Katherine Chiglinsky | Updated on September 24, 2015

(Bloomberg) — Munich Re and Marsh & McLennan Cos., the largest insurance broker by market value, introduced a product to insure U.S. pharmaceutical companies against regulatory actions that could cause them to suspend manufacturing.

The product would cover as much as $10 million in non- damage business-interruption costs tied to violations of federal manufacturing standards, Munich Re said Wednesday in a statement. The Munich-based company is the world’s biggest reinsurer.

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