Bio Life Science Insurance

Protect your business with comprehensive insurance cover, tailored to your needs.

What is Bio Life Science Insurance?

Bio life science insurance, also known as biotechnology and life sciences insurance, is a specialist type of insurance designed to address the unique risks and challenges faced by companies and organisations operating in the field of biotechnology, pharmaceuticals, medical devices, and life sciences research. This industry involves cutting-edge advancements in science and technology to develop new drugs, medical treatments, and innovative healthcare solutions.
  • EProduct Liability Coverage: This covers manufacturers, distributors, and sellers of pharmaceuticals, medical devices, and other life science products against claims of bodily injury or property damage resulting from product defects or failures.
  • EClinical Trials Liability: Coverage for the legal liabilities arising from injuries or adverse events that occur during clinical trials of new drugs or medical treatments.
  • EProfessional Liability (E&O): Protection for errors or omissions made by professionals in the life sciences industry, such as researchers, scientists, and medical practitioners, during their work.
  • EProperty and Equipment Coverage: Coverage for physical assets like laboratories, research equipment, and machinery used in the development and manufacturing of life science products.
  • EBusiness Interruption: Compensation for lost income and additional expenses if operations are disrupted due to covered events like fire, natural disasters, or equipment breakdowns.
  • EIntellectual Property Protection: Coverage to safeguard intellectual property, including patents, trademarks, and copyrights, from infringement claims.
  • EContamination and Recall Coverage: Protection against costs related to product recalls, contamination events, or contamination of research materials.
  • ECyber Liability: As the life sciences industry relies heavily on data and digital systems, cyber liability coverage safeguards against data breaches and cyberattacks.
  • EResearch and Development Coverage: Coverage for financial losses resulting from the failure of a research project or clinical trial to achieve desired outcomes.

Who Needs Bio Life Science Insurance?

Any company or organisation involved in biotechnology, pharmaceuticals, medical device manufacturing, medical research, or life sciences should consider bio life science insurance. This includes pharmaceutical companies, medical device manufacturers, research institutions, clinical research organisations, and startups in the field.

The bio life science industry operates at the cutting edge of innovation, but it also faces inherent risks due to the complexity of research, development, and testing. A single mistake or failure can lead to significant financial losses, legal claims, and damage to reputation. Bio life science insurance provides a safety net to mitigate these risks, allowing companies to pursue breakthroughs with confidence while protecting their financial interests and assets. Given the specialized nature of this industry, working with an insurance provider who understands the intricacies of bio life sciences is crucial to obtaining tailored coverage.

How can we help?

Welcome to Our Expertise in Life Science Insurance!

Leveraging our extensive background, the realm of Life Science seamlessly aligns with our strengths, merging scientific insight and technical expertise.

Comprehensive Solutions for All Stages

Whether you’re a well-established company or an ambitious startup venturing into the exciting world of Life Science, we’re here to provide tailored coverage. Our services extend to encompass various facets, including clinical trials. Additionally, we’re thrilled to announce our partnership with a market-leading insurer, enabling us to offer stand-alone covers that set the industry standard.

Navigating the Life Cycle of Risk

Throughout the journey of a Life Science organisation, numerous exposures emerge. From the intricate landscape of research and development to the critical stages of trials and the subsequent manufacturing and distribution of products, a multitude of risks present themselves. Our commitment lies in safeguarding your interests at every step, ensuring you can focus on innovation and progress with the confidence that your assets are protected.

What Will We Do?

Getting to Know You

Bio-life science companies operate in a unique industry with specific risks and insurance requirements. We will assess the nature of the company’s activities, such as research and development, clinical trials, manufacturing, and distribution of pharmaceuticals or medical devices. We will identify potential risks, including product liability, professional liability, property damage, intellectual property, and regulatory compliance. This assessment helps us determine the appropriate insurance coverage needed to protect the your assets and mitigate potential liabilities.


Specialist Insurers

We have access to a wide network of insurance providers specialising in the bio-life science industry. We can approach multiple insurers on your behalf, obtaining quotes and comparing coverage options. This allows us to find the most suitable policies that address the unique risks faced by bio-life science companies. We can negotiate terms and conditions and leverage their relationships with insurers to obtain competitive pricing.


Insurance Tailored to You

The bio-life science industry often requires specialised insurance coverage tailored to specific activities and risks. As your insurance broker we can help identify and arrange specialized coverage, such as product liability insurance, clinical trials liability insurance, errors and omissions insurance, property insurance for laboratories and research facilities, business interruption insurance, and cyber liability insurance. We ensure that your insurance program is comprehensive and tailored to your specific needs.


Risk Management Strategies

We can assist you in implementing effective risk management strategies. We can provide guidance on safety protocols, quality control processes, regulatory compliance, risk assessments, and employee training programs. By helping you proactively manage risks, we aim to reduce the likelihood of accidents, product recalls, regulatory issues, and financial losses. This, in turn, can lead to better insurance premiums and improved risk profiles.


Extensive Claims Support

In the event of an incident or claim, we act as advocates for your company. We assist with the claims process, ensuring that all necessary documentation is submitted accurately and promptly. We work closely with the insurance provider to expedite claims resolution and negotiate fair settlements. Our expertise and knowledge of policy terms and conditions help maximise your chances of a favourable claims outcome.


Ongoing Reviews

The bio-life science industry is dynamic, with evolving technologies, research advancements, and regulatory changes. We provide ongoing policy review and support, ensuring that the insurance coverage remains adequate and up-to-date. We stay informed about industry trends, emerging risks, and regulatory requirements, providing you with relevant insights and recommending adjustments to the insurance program as necessary.

We go into the finer details of your business to give you peace of mind that you are fully covered.

Speak to us about protecting what matters most.

If you’re interested in protecting what matters most and securing your family or business financial future, we’re here to help.

We’re experts in what we do and will provide a solution tailored to you and your requirements. Our team of experts will work closely with you to find the right coverage at the right price. Get started today.

Frequently Asked Questions

Do you specialise in Life Science insurance?

Yes. Our background combines scientific knowledge and technical know-how, making the intricate world of Life Science a perfect match for our strengths. This enables us to provide specialist insurance solutions tailored to the unique needs of Life Science businesses.

Can you help me and my business?

Our services cater to a wide spectrum of clients. Whether you're an established company or a startup, including those involved in clinical trials, we have the expertise to customise insurance coverage that suits your specific Life Science operations.