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A hip replacement manufacturer paid $151 million after five patients were injured from defective implants

More than 28,000 lawsuits have been filed by people who developed painful complications following hip replacements. One manufacturer was ordered to pay $151 million to five plaintiffs who suffered permanent injuries from defective implants.

Companies developing, manufacturing or selling medical devices constitute just one sector within the life sciences industry exposed to massive losses purely due to the invasive nature of their products and services.

Life Science insurance policies can limit your clients’ exposures with creative solutions tailored to protect a broad scope of life science companies including medical device product manufacturers, suppliers, biological developers and contract research organizations.

Coverage Details and Features

  • General Liability including Products/Completed Operations Coverage
  • Professional Liability (combined limit or separate limits)
  • Technology and Cyber Coverage
  • Broad Product Recall, including accidental contamination, malicious product tampering, cyber malicious product tampering, product extortion and government actions
  • Claims-made policy form, Occurrence Coverage for certain risks
  • Incident Coverage trigger
  • Property coverage throughout the supply chain with resultant business interruption also included
  • Special perils such as: contamination, machinery breakdown, spoilage of perishable stock and ideologically motivated attack are available on request
  • Worldwide coverage

Target Classes

(including but not limited to)

  • Clinical trials
  • Research and development/contract services
  • Contract research organizations (CRO's)
  • Contract manufacturing organizations (CMO's)
  • Pharmaceutical companies
  • Distributors
  • Importers
  • Manufacturers
  • Private labels
  • Retailers
  • Raw material suppliers
  • Wholesalers
  • Biologics
  • Blood and tissue processors
  • Nutraceutical companies including dietary supplements
  • Medical devices (invasive and noninvasive)

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