Life Science Insurance & Liability

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. Businesses in this ever-evolving, fast-paced sector are exposed to unique risks due to the cutting-edge nature of their products. Expertise within our life sciences underwriting, claims, and risk engineering teams allows us to partner effectively with businesses in this complex industry.

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

Organizations should partner with an insurance company that can help navigate existing and potential risks to the business with a broad offering of risk management solutions. This essentially means a partner who is active in developing customized service plans and provides clear and easy-to-use self-guided resources to mitigate risk challenges.

Types of companies
Coverages available

Research & development and clinical trials

Research and development, clinical trials, and contract research organizations (pre-clinical and clinical)

Pharmaceutical operations

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

Nutraceutical operations

Dietary supplements including vitamins, diet aids, food supplements and topicals, and CBD

Biologics

Allergenics, therapeutic biological products, tissue and tissue products

Cosmetics

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*:

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.

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.

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.

General liability

General liability insurance protects your business from common risks, including customer injury, customer property damage, and advertising injury.

* Coverages offered vary and may not be available to all risks

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Why is insurance for the life sciences industry important?

The life science industry is dynamic and growing rapidly with new inventions in a highly regulated environment. Organizations in this sector need to protect their businesses by mitigating risk through the right insurance, so they can keep the momentum without skipping a beat by continuing to predict, prevent, treat, and cure diseases and conditions around the world.