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A visitor enters the Lloyd's of London Ltd. building in London, U.K. (Photo: Chris Ratcliffe/Bloomberg) A visitor enters the Lloyd’s of London building in London, U.K. (Photo: Chris Ratcliffe/Bloomberg)

(Bloomberg) — Lloyd’s of London, the world’s largest insurance market, plans to begin offering coverage of coronavirus vaccine deliveries.

Parsyl Inc., a U.S. insurance technology company, has teamed up with Lloyd’s to provide policies covering the storage and shipping of potential COVID-19 vaccines and other medicines, according to a Lloyd’s statement on Thursday. Vaccine delivery can be expensive to insure because underwriters are concerned about the risk of medicines being spoiled by excessive heat or cold.

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