Why do you need specialist medical technology insurance?
Medical technology companies are at the frontier of innovation to deliver products that provide new solutions to patients. From biotechnology, pharmaceuticals, information technology to the development of medical devices and equipment, they contribute to improving people's health around the world. However with this, they run a risk something could go wrong.
- Medical malpractice protection
Due to the nature of the Medtech businesses and healthcare providers, you face risks that might involve AI diagnosis error, system outages or faulty devices. We’ll make sure you’re covered.
- Intellectual property (IP) infringement
IP is a main asset of a Medtech business. It’s essential you have the correct cover in place to protect it.
- In-house claims team
If you do need to make a claim, we have a team of claims experts on hand to support you from start to finish.
How our technology insurance team can help
Insurance shouldn’t be painful. After all, it’s there to protect you. That’s why our personable experts will provide advice and support in a simple, solution-focused way that works 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 take care of you.
Get in touch with a technology insurance expert
What medical technology insurance does your business need?
Not sure what Medtech insurance you need? We’ll discuss your requirements before presenting a medical technology insurance solution that meets your complexities, but you may wish to consider:
Professional indemnity - covers the legal and compensation costs you may have to pay if a client makes a claim against you.
Public liability – covers you for the cost of a claim arising from a suffered injury or property damage caused by you or your employees.
Employers' liability (EL) – compulsory by law for most businesses, EL provides cover if a worker suffers an injury or an illness they believe is your fault.
Directors and officers – also known as management liability portfolio insurance (MLP), provides any director, partner or employee acting in a managerial capacity on behalf of the company cover for defence costs incurred during a claim and awards made against you personally.
Cyber liability insurance – protects your business from cyber-criminal activity such as hacking, and the legal and reputational fallout caused from a data breach.
Insurance solutions for people and businesses like you
Operating in a global, borderless and fast-paced industry carries a variety of unique risks. Data breaches, contract disputes, and infringement of intellectual property remain a constant threat. Meanwhile equipment/software failures, funding/acquisition/exit liabilities, and personal claims made against board members are an ever-present concern. This requires the right expertise in navigating such risk exposures and arranging appropriate insurance protection.
At Marsh Commercial, we support various technology companies including; communications and media specialists, data centres and science parks, fintechs, hardware and electronic manufacturers, IT consultants and contractors, life science providers, medical technology designers, software, gaming and app developers, and much more. Working closely with our insurer partners to arrange insurance policies that are truly fit for purpose.
Life Sciences Insurance
Life science companies are vulnerable to a number of unique liability exposures including research and development costs and product contamination. We can offer a life sciences insurance package tailored to suit your needs.
Specialist cyber insurance
Working in the medical technology industry means your business is more vulnerable to cyber-attacks. We can provide comprehensive cyber insurance that includes cover for your liabilities, costs and mitigating damage.