Product Liability Insurance for Pharmaceutical Medical Life Sciences Industries
The Pharmaceutical and Medical industries provide products that are, in all real sense of the words, life-saving. Businesses that offer products to this industry need to have appropriate liability insurance to protect themselves from costs arising from injury, damage or pure financial loss that could be sustained by their customers or third parties using these products.
Business Insurance Specialists can assist in providing appropriate liability insurance for manufacturers, importers or distributors in this industry sector.
Pharmaceutical, Biotech and Lifescience liabilities are evolving and ensuring that you have appropriate insurance in place to protect your business is vital.
Coverage benefits include coverage for services irrespective of a fee being charged or not. Also, we can obtain extended reporting period coverage or tail coverage in the event that a 'claims made' rather than "occurrence coverage' policy is issued.
Retroactive coverage can be issued, that would follow-form the retro date of the previous policy, and allows for replacement of any existing policy, to ensure there are no gaps in coverage.
We can also provide government recall coverage based on insurer agreement, and where required to meet overseas insurance regulations policies, where locally issued policies must be issued, a global policy providing Difference in Limits or Difference in Conditions coverage can be issued.
The range of products, industries or manufacturers who may require this type of insurance include:
- Biotechnology
- Cosmetic manufacturers
- Clinical Trial sponsors
- Medical device manufacturers
- Chemical manufacturers and distributors
- Pharmaceutical manufacturers, contract manufacturers, and manufacturers of pharmaceutical ingredients
The type of coverage provided includes the full range of liabilities arising including Public and Products Liability, Medical malpractice, Clinical trials no-fault compensation, professional liability insurance including errors and omissions.
For a review and quotation on your Pharmaceutical Medical Liability insurance, please contact us, or complete the provided form, and we will review and contact you to discuss your options.