US Life Sciences

What we offer

Insurance protection designed by experts for the risks that Life Science organizations face, as they can come in many forms ranging from unsafe products and causing pollution to negligence in clinical trials. The liability on those responsible when things go wrong can be significant and the challenges are growing with an increasingly litigious world, new regulation and greater dependency on technologies.

We have created a broad, flexible policy to meet the current and emerging needs of the sector. Pillars of cover available on distinct product forms:

BioSecure – A flexible, innovative and client-focused approach to underwriting life science related risks. Coverages include errors & omissions liability, products/completed operations, healthcare professional liability, general liability, medical payments and medical monitoring expense coverage for both clinical trials and sold products.

Nutraguard – Drawing on extensive experience, Beazley is proactive in helping our nutraceutical insureds protect their operations worldwide. Coverage available primary and umbrella, products/completed operations, general liability, advertising/personal injury, employee benefits liability, fire legal liability, medical expenses, professional liability, errors & omissions and product recall expense. Our broad appetite of risks includes dietary supplements, personal care products, cosmetics, select over-the-counter drugs.

WellTech™ - A unique, holistic, flexible risk protection package that combines products/completed operations and tech liability, healthcare professional liability, tech error & omissions, general liability, and cyber liability coverages, that is easy to work with. Just one policy to endorse and renew to provide integrated, tailored coverage for growing life sciences businesses.

Miscellaneous Medical Liability - Protection against medical professional liability exposures arising out of a wide range of healthcare related businesses including hard-to-place risks.

Coverage

Products liability (CM)
Professional indemnity
Public liability
Clinical research services – negligent act, error or omission
Medical malpractice
Clinical trials – no-fault compensation & legal liability
Claims made coverage

How can we help

Life sciences risks present myriad exposures in need of expertly crafted coverage. Beazley offers a flexible, innovative and client-focused approach to underwriting this class of risk. In addition our dedicated healthcare claims team offers responsive claims handling to meet the needs of Insureds. We should mention how we have dedicated Wordings Specialist in order to tailor make coverage to that specific insured.

Who we can help

A wide range of life sciences organizations within the middle to large-sized market up to US $25,000,000 in capacity.

Pharmaceuticals
Blood and tissue banks
Nutraceuticals/Dietary supplements
Medical devices
Biotechnology
Contract research organizations
Contract manufacturing organizations
Site management organizations
Academic research Institutions
Wholesale and retail distribution
Sponsors of human clinical trials
Lab/Diagnostic services.

The Beazley Difference

BEING BOLD

Freedom lies in being bold. We dare to be different and seek bold possibilities to create more innovative, fair and satisfying outcomes for our clients, brokers and employees. From insuring the highest building in the world, to the first commercial lunar vehicle to operate on the moon - we boldly go where others won’t.

STRIVING FOR BETTER

Good is a start, but we go all-out for better. A driven community of individuals relentlessly push the needle and creating value. From launching the market’s first dedicated ESG syndicate to the establishment of our business unit focusing on designing digital insurance solutions, we pride ourselves on always going above and beyond. Simply put, at Beazley we go to 11.

DOING THE RIGHT THING

Acting with integrity in a straightforward, decent way is instinctive. Open and honest with others, we show respect and empathy however challenging the situation – demonstrated by our multi-award winning claims team. Doing the right thing makes for a fair-minded, rewarding environment and makes work and life better for all.

Examples or Scenarios

Product liability claim for failing to include the adequate warnings, causing fire and burns.
Insured medical device representative is alleged to have provided insufficient information to a patient regarding known potential complications.
Insured is sued based on allegations that their product was not properly tested for genetic conditions resulting in genetic illness.