Life Sciences

Specialist underwriting for the life sciences industry

Combined liability insurances, outstanding wording and claims handling for life science service providers, medical device and pharmaceutical companies.

15

Average years of underwriting experience

14%

percentage of year-on-year growth in newly formed life science companies in Europe over the past five years

Key benefits

Global coverage and broad appetite

Life science companies often have a global outlook and a multi-jurisdictional risk profile.

With this in mind, our products offer global protection and can depend on DUAL's global presence - operating in 21 countries   (We’re also able to write coverage on the Lloyds of London licence, meaning we can offer cover in any country, regardless of its licencing arrangements.

Life science companies are also diverse in their product or service offering, varying from very small to very large. Our appetite is very broad to support the industry and our broker partners.

Policy wordings designed by dedicated life science underwriters

Although life science presents a complex technical and regulatory environment, we try to make things simple for you. Our dedicated in-house life science underwriting team has an excellent understanding of  the scientific aspects of the sector, staying up-to-date on industry developments as part of our approach.

This is reflected in our approach to policy design - we work hard to make sure products remain relevant and robust.

Collaborative approach to program design

With our range of life sciences specific wordings as the starting point and our flexible policy schedules, we are able to create insurance solutions that suit your needs.

As we're deeply immersed in the life science sector, your clients can have confidence in our team, helping negotiations to run smoothly.

Experienced claims handlers, ready to support

Life sciences claims are handled in-house by experienced sector specialists. Taking a consultative approach, we aim to provide a quality service and prompt, fair resolutions.  

life_sciences

Coverage options

Coverage can include a wide range of exposures, depending on the client’s business.

Standard coverages

Cover for legal liability arising from third-party damages related to running a business – typically before delivery of services or products.

Designed to protect your clients against compensation costs generated by employee claims.

Protection against losses arising from defective products.

Cover designed to protect your clients against liabilities arising from conducting services such as contract manufacturing, research and development.

Protect your clients in the event of claims for damage caused to natural persons related to conducting medical serives.

Designed to protect against property damage to  third party goods being under your care, custody or control.

Coverage for costs related to support by an external crisis consultant in case of a loss.

Indemnification for costs directly related to recalling defective products, for example, costs of retrieval, replacement, transportation, storage, and product disposal.

Covering pure financial losses related to infringement of some Intellectual property rights. 

Help your clients safeguard against damages or compensation to research subjects, arising from bodily injury as a result of clinical trials in addition to local compulsory coverages.

Policy limits available

Up to €20m

line size / policy limits

€40m

attachment point for excess positions

Retail or wholesale

available to retail and wholesale brokerages

Risk appetite

We can provide solutions for a range of clients, including (but not limited to):

  • Medical devices

    • In vitro diagnostic tests/ diagnostic devices
    • Rehabilitation/mobility/ implants
    • Software-as-a-medical-device
    • Imaging/contrast agents
    • Durable medical equipment
    • Chronic care/infusion/ home care

  • Pharmaceutical products

    • Oncology 
    • Vaccines 
    • Dermatology 
    • Pain management 
    • Psychopharmacology 
    • Nutraceuticals 
    • Other prescription or over the counter 
    • Active pharmaceutical ingredients 

  • Service providers

    • Contract research organizations 
    • Contract manufacturers 
    • Non-clinical laboratories 

Underwriting requirements

To begin the underwriting process, you'll need to provide details on 

  • The company or project and its activities 
  • Financials
  • Risk management procedures 
  • Regulatory compliance 
  • Insurance / claims history 

Exact underwriting requirements may very depending on the nature of the coverage and program.

We're here to help

Contact us

For general enquiries and everything else please complete the form below or call +31 10 3229006

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