• Insurance for Biomedical and Life Science Businesses

    Insurance for Biomedical and Life Science Businesses

    Tailored cover for pharmaceutical and biotechnology companies

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27
January
2016

Compare Insurance Quotes for BioMed and BioTech Firms

According to UK Government statistics biomedical and life sciences sector in the UK generates £52bn per annum and leads the world in pharmaceutical and biotech innovation.

Our specialist BioMed and Biotech firms can be tailored to your specific activities. One of our dedicated insurance advisors will take their time understanding your specific risks and activities before comparing quotes from the UK’s leading life science insurers.

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What Type of Biomedical or Life Science Businesses Can You Cover?

We can cater for a diverse range of firms from small start-ups to established SME players. Typical businesses we have covered in the biomedical and life science sector include:

  • Biotechnology firms
  • Dietary and wellbeing supplements
  • Laboratory instrument manufacturers and developers
  • Medical device manufacturers and developers
  • Medical equipment manufacturers and developers
  • Medical food developers
  • Pharmaceutical firms
  • Research and Development (R&D) firms

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BioMed and BioTech Policy Cover

  • Specialist cover for all types of Life Science or Biotech companies
    Specialist cover for all types of Life Science or Biotech companies
  • Insurance for Research and Development (R&D)
    Insurance for Research and Development (R&D)
  • Contamination, radioactive or environment cover
    Contamination, radioactive or environment cover
  • Public Liability and Products Liability Insurance
    Public Liability and Products Liability Insurance
  • Cover for clinical trials up to £10m
    Cover for clinical trials up to £10m
  • Employers Liability to protect your legal responsibilities for employees
    Employers Liability to protect your legal responsibilities for employees
  • Professional Indemnity and Management risks (including Entity defence)
    Professional Indemnity and Management risks (including Entity defence)
  • Intellectual Property insurance including breach of patent
    Intellectual Property insurance including breach of patent
  • Property Protection for buildings, contents, machinery and specialist lab equipment
    Property Protection for buildings, contents, machinery and specialist lab equipment
  • Malicious damage and business interruption protection
    Malicious damage and business interruption protection
  • Fidelity Cover (theft by employees)
    Fidelity Cover (theft by employees)
  • Laptop, tablet, mobile phone or portable equipment
    Laptop, tablet, mobile phone or portable equipment
  • Legal Expenses, Travel & Personal Accident options
    Legal Expenses, Travel & Personal Accident options

Why Insync for Life Science

  • We compare prices and business cover from our panel of leading pharmaceutical and biotech insurers
    We compare prices and business cover from our panel of leading pharmaceutical and biotech insurers
  • Instant quotations - cover and policy documents in minutes
    Instant quotations - cover and policy documents in minutes
  • Flexible cover & monthly payments – just pay for the sections you need
    Flexible cover & monthly payments – just pay for the sections you need
  • Expert advice from life science insurance specialists
    Expert advice from life science insurance specialists
  • 24 Hour Claims Helpline
    24 Hour Claims Helpline
  • Personal – Digital servicing AND your own dedicated insurance professional
    Personal – Digital servicing AND your own dedicated insurance professional

Biotech, Biomedical Insurance - Claims Example

Biotech, Biomedical Insurance - Claims Example

Client is involved in development of a new muscle relaxing agent. During the clinical trial a number of participants suffered an unforeseen skin reaction.

What’s the Difference Between Standard Business Insurance and Life Science Cover?

What’s the Difference Between Standard Business Insurance and Life Science Cover?

Whilst standard business insurance will provide basic property and liability requirements to cover equipment and legal liabilities such as public and employers liability, it does not extend to cover some of the core risks for any biomedical or biotechnology firm.
Clinic trials are a necessity, but they are not without risk and are essential to a life science insurance programme. Research and Development programmes are also extensive and without adequate insurance protection would leave you firm open to significant financial risk.