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Life Science

U.S. drug approvals recently hit a 21-year high

Medical research and development (R&D) is skyrocketing, with $155.6 billion invested annually. As a result, U.S. drug approvals recently hit a 21-year high.

As R&D continues to grow, it is important to consider the exposures in play. There are numerous parties involved in bringing a product to market. Any mistake along the way can lead to a claim stemming from loss of revenue, compromised integrity of the product, or bodily injury. Make sure your clients have proper coverage as one error can result in a domino effect of losses.

Life Science Coverage can be customized to protect your clients whether they are in R&D, medical device product manufacturing, or biological development.

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)

Applications for this product may vary. Please click below to find the office nearest to you for assistance.

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