Life Sciences insurance

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Key benefitsCoverage optionsRisk appetiteUnderwriting requirements
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Specialist underwriting for the life sciences industry

Combined liability programs, standalone wordings and global protection for life sciences, service providers, medical device and pharmaceutical companies.

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Key benefits

Global coverage, including the USA

Life sciences operations often have a global outlook and a multi-jurisdictional risk profile.

With this in mind, our products offer global protection (many carriers don’t write coverage that includes the USA - we do).

We’re also able write coverage on the Lloyds of London licence, meaning we can offer cover in any country, regardless of its licencing arrangements.  

Policy wordings designed by dedicated life science underwriters

Although life sciences presents a complex technical and regulatory environment, we try to make things simple for you.  Our dedicated in-house life science underwriting team has a good grip on the scientific aspects and stays up-to-date on industry developments as a matter of course.

This is reflected in our approach to policy design - we work hard to make sure products remain relevant and robust.

Collaborative approach to program design

With our range of life sciences specific wordings as the starting point, we are able to create insurance programs that suit your needs.

As we’re comfortable discussing the subject matter, your clients can have confidence in our team, and negotiations can run more smoothly.

Experienced claims handlers, ready to support

Life sciences claims are handled in-house by experienced sector specialists. Taking a consultative approach, we aim to provide a quality service and prompt, fair resolutions. Our claims philosophy

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Coverage options

Coverage can include a wide range of first-party and third-party exposures, depending on the client’s business.

Standard coverages

Cover for legal liability arising from third-party personal injury, property damage and advertising liability claims.

Designed to protect your clients against compensation costs generated by employee claims.

Protection against financial losses arising from products that don’t carry out their intended function.

Cover designed to protect your clients against liabilities arising from their professional duties, including those involved in manufacturing, research and development.

Protect your clients in the event of claims for injury or damage caused to third parties.

Designed to protect against losses arising from covered property damaged by third parties.

For example, legal fees and costs relating to investigations, crisis communications and loss of income. 

Including direct costs related to recalling defective products, for example, costs of retrieval, replacement, transportation, storage, and product disposal.

Covering defence costs and damages during IP challenges. Common scenarios include protecting IP from infringement, defending accusations of infringing on others' IP rights, and financial losses due to rights being invalidated or revoked.

Help your clients safeguard against damages or compensation to research subjects, arising from bodily injury as a result of clinical trials.

Policy limits available

Up to $10m

line size / policy limits

$40m

attachment point for excess positions

Retail or wholesale

available to retail and wholesale brokerages

Additionally you may need

Covers the direct costs of recall plus loss of revenue, reputational damage, legal and regulatory costs and third party liability claims.  

Financial protection against losses your clients suffer due to malicious cyber-attacks or accidental outage. Policies can be designed to cover both third party claims and first party losses. 

See cyber page for further details. 

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Our risk appetite

We can provide solutions for a range of clients, including (but not limited to):

Medical devices

  • In vitro diagnostic tests/ diagnostic devices

  • Rehabilitation/mobility/ implants

  • Software-as-a-medical-device

  • Imaging/contrast agents

  • Durable medical equipment

  • Chronic care/infusion/ home care

  • Components to medical devices

Pharmaceutical products

  • Oncology

  • Vaccines

  • Dermatology

  • Pain management

  • Psychopharmacology

  • Nutraceuticals

  • Other prescription or over the counter

  • Active pharmaceutical ingredients

Service providers

  • Contract research organizations

  • Contract manufacturers

  • Non-clinical laboratories

Underwriting requirements

To begin the underwriting process, you'll need to provide details on 

  • The company or project and its activities 
  • Financials
  • Risk management procedures 
  • Regulatory compliance 
  • Insurance / claims history 

Exact underwriting requirements may very depending on the nature of the coverage and program. 

Download relevant Life Science insurance application forms here