life sciences insurance
Why do you need specialist life sciences insurance?
- The threat of litigation
alongside the actions of regulators posing a financial and reputational risk.
- Challenges to patents
and other forms of intellectual property potentially undermining core products and sources of revenue.
- Costs associated with research and development
or potential product contamination.
Saving lives and transforming the world is risky business. You need an insurance policy that can grow and adapt with you.
How our life sciences insurance experts can help you
Insurance shouldn’t be painful. After all, it’s there to protect you. That’s why our experts are on standby to do the leg work for you.
No matter how straightforward or complex your risks are, whether you’re looking for a new policy or to amend existing cover, we can help and we’ll always put your best interests first.
What does life science insurance cover?
Get covered for:
- Property damage / business interruption including research and development operations
- Public and employers’ liability
- Products and services liability
- Clinical trials liability
- Cyber liability
- Errors and omissions liability
- Damage caused by changes in temperature controlled environments
- Product recall expenses
- Contamination incident/clean-up.
We’ll always discuss your specific needs first before presenting the right insurance solution. Book an appointment.
What are you looking for in your life science insurance partner?
Big enough to keep you safe as part of a world-leading insurance group, Marsh & McLennan Companies, we’re a family with over 35,000 colleagues operating in more than 130 countries and support a global life science family of clients including:
- 80% of the top 50 pharma companies
- Over 50% of the top 25 medical device companies
- 45% of the top 20 biotech companies.
Small enough to care as a proud UK community broker with a local branch network the length of the country. In the UK and Ireland, Marsh UK help serve:
- Over 300 life sciences clients
- 35% of FTSE 350 life science companies.
The real value is through the outputs of our clients. From vaccines to antibiotics; X-ray imaging to artificial hearts; and DNA sequencing to gene-editing, there aren’t many industries which have such a fundamental impact on the world as the Life Science industry. We’re proud to help these businesses change the world.
Intellectual property - your #1 concern?
Protect your key assets with a specialised intellectual property insurance programme that enables you to:
Free-up cash reserves formerly earmarked for litigation costs and damages.
Protect the financial statement and shareholder value against the impact of large uninsured intellectual property losses.
Initiate better risk control and mitigation by focusing attention on the intellectual property risk.
More than just an insurance broker
For clients across the pharmaceutical and bio tech industries, and for medical device manufacturers, diagnostics companies, and consumer health aid product marketers, we can offer solutions that include:
- Claims consultancy
- Trade credit
- Risk management programmes
- Employee health and benefits
- Marine cargo and stock throughput solutions tailored to your quality-control guidelines.
Frequently asked questions
We’re able to source an insurance solution for those operating in all areas of life science, irrespective of their size, stage of development or location. If you’re a:
- Medical device company
- Biotech company
- Pharma company
- Dietary supplement marker
- Or a service organisation such as contract manufacturers, contract research, site management, analytical and testing laboratories.
Get in touch, we’ll be able to help you.
Read our latest articles
UK manufacturers are facing the largest shortage of skilled workers since 1989. How are they tackling this issue and how can you navigate the skills gap?
The growth of bicycle sales and why insurance should be a key consideration for cycling enthusiasts with high-value bicycles.
Despite the pandemic, technology merger and acquisition deal volumes showed little signs of slowing down in 2020. We explore the key risks and trends.
One of the key control measures for a safe return to the workplace is ventilation. Here’s what you need to consider when keeping workplaces ventilated.
We’re proud to sponsor the Bristol Property Awards 2021 that celebrate the city’s dynamic property sector. Enter your business for an award today.