Life Sciences

Some of the changes you can control include:

• Adoption of new technologies
• Treatment personalization
• Results-based payments
• Strategic partnerships and joint ventures

Changes that are beyond your control include:

• Regulation
• Market pricing pressures
• Supply chain disruption
• Geopolitical uncertainty

In response to these changes, life science companies are growing increasingly sophisticated in how they manage risk, demanding more value from their brokers and insurer partners.

Managing a wide change of changing exposures requires a partner that understands the unique risks the life sciences industry faces and offers the breadth of services to address all your risk and people needs.

We are one of the leading risk and insurance brokers, with more than 700 life sciences clients worldwide. With offices in 120 countries, we can help your life sciences company make smarter decisions about risk.

Deep life sciences insurance knowledge

The life science industry is highly regulated and globally dynamic. Whether you’re a pharmaceutical, biotech or medical device maker, we have the knowledge and dedicated resources to help your company navigate this complex risk landscape to make smarter decisions.

Our life sciences team features a cross section of professional backgrounds and credentials, including:

• Scientists
• Attorneys
• Risk managers
• Brokers
• Underwriters
• Risk engineers
• Claims specialists

Our global footprint and multinational knowledge enable us to anticipate trends and regulations around the world and afford easy access to relevant information about virtually any location in which you do business. Together, we can help you make better decisions about risk and human capital.

Our life sciences insurance expertise

We specialize in services for:

• Pharmaceutical and biotech
• Therapeutic research and development
• Generic and specialty drug manufacturers
• Medical device and digital health companies
• Contract research organizations (CRO)
• Contract manufacturing organizations (CMO)
• Diagnostic laboratories
• Nutraceutical and over-the-counter (OTC) medicines

We have a globally integrated practice with industry specialists in:

• Property and casualty insurance
• Clinical trials
• Claims advocacy
• Management liability
• Risk and loss control
• Cyber risk
• Analytical tools
• Mergers and acquisitions (M&A)
• Intellectual property risk
• Reputational risk
• Product recall
• Compensation advisory
• Employee benefits

Access to global life sciences regulatory information

We can provide access to comprehensive global regulatory and compliance information, ensuring that you stay informed about the latest developments affecting your life sciences business. This information is provided by country and includes:

1. Non-admitted status
2. In-country regulations
3. Insurance limits
4. Professional liability requirements
5. Certificate protocols
6. Specific information requirements for each country

How we serve our clients

• Before we place any insurance, we work with you to identify and quantify your unique risks to efficiently protect your balance sheet.
• We provide you with the confidence that your insurance programs are created to fit your specific needs. We challenge the status quo and create programs that will evolve with your business. Due to a fast-paced and constantly changing risk environment, we help you anticipate risks and plan mitigation strategies for the next development. We guard the present with an eye on the future, helping you make smarter decisions about risk.
• We offer you a single point of access, aligning specialist teams across every line of coverage. Our proprietary system ensures real-time access to risk information, facilitating efficient, smarter and proactive decision making.

What makes us different

• Many of our clients in the life sciences sector lack dedicated risk management professionals. This reality has prompted us to build a service model for every client designed to optimize resources while improving outcomes.
• We will provide you with regular in-depth trends and insights on emerging risks impacting the life sciences industry and insurance marketplace to help you implement the right solutions for your organization.
• Our advanced loss modelling capabilities. Connected Risk Intelligence is an innovative development in risk consulting which visualises risk in a single language and framework to empower organisations to make better risk finance decisions.
• We spend the time evaluating and analyzing your risk exposures to help minimize the total cost of risk so your life sciences organization can make smarter decisions.
• We provide direction and consultation on risk mitigation strategies and improvement opportunities to help enhance your life science business’ performance. We offer a range of solutions to address your risk and people issues.
• Our service team offers access to specialists in different lines of business including: directors’ and officers’ liability, cyber insurance, product liability, supply chain, cargo, assets and risk engineering.

Together, we can help you make smarter decisions about your risk and human capital.

For specialist help discovering smarter ways to manage risk in the life sciences sector, please get in touch with the experts listed at the top of this page.