From research to product manufacturing, a specialized insurance product better serves the commercial insurance needs of the life sciences industry, including the pharmaceutical, biotechnology, medical device, and nutraceutical spaces.
For over 30 years, Markel has been offering innovative insurance solutions for companies in the life sciences industry.
Insurance designed for the life sciences industry
Research & development and clinical trials
Research and development, clinical trials, and contract research organizations (pre-clinical and clinical)
Prescription, over-the-counter, active pharmaceutical ingredients, and veterinary drugs (companion animals). Appetite includes both branded and generic pharmaceuticals.
Medical device operations
Non-invasive and invasive medical devices, including implantable devices
Dietary supplements including vitamins, diet aids, food supplements and topicals, and CBD
Allergenics, therapeutic biological products, tissue and tissue products
Skin care preparations, personal care preparations, bath preparations, and fragrance preparations
Markel offers specialized coverage designed to help protect life sciences companies from the unique industry risks they face.
Some coverages available include*:
General liability insurance protects your business from common risks, including customer injury, customer property damage, and advertising injury.
Primary or excess liability
Both admitted and non-admitted capabilities offered as flexible insurance solutions to meet your needs, including additional protection over your primary insurance coverage.
Errors or omissions liability
Offers insurance protection against claims resulting from alleged negligent acts, errors, or omissions in connection with the professional services being rendered.
Products and services, including human clinical trial liability
Operations span the life cycle of a product to include research and development, clinical trials, and sold products in the medical device, pharmaceutical, nutraceutical, and biotechnology space.
* Coverages offered vary and may not be available to all risks
Why is insurance for the life sciences industry important?
Reasons life science companies need insurance:
Key products for the life sciences industry
Products, E&O, and general liability
Latest insights and resources
Risk management and loss control
Risk Solution Services (RSS) supports customers by identifying potential risk areas and providing customized recommendations for improvement, including a resource library to help understand common risks and mitigation techniques.