Life Sciences Insurance
Specialist life science insurance for labs, CROs, health tech, pharmaceuticals
Our life sciences insurance team is a highly specialist practice, advising clients from bioscience, biotech and bioinformatics to vaccine and drug development, contract research and larger pharmaceutical businesses. Our wealth of experience and focus on risk management advice has earned Partners& a reputation as one of the leading life science insurance brokers in the United Kingdom.
Whether you’re seeking insurance for labs or for developing medical devices or software in health tech, our experienced life sciences team is here to help build the stability, resilience and security to cope with unforeseen events, and to reassure your investors.
Liability for the safety of trial participants is central to many life science insurance programmes.
Working with sensitive health-related data can expose you to significant risks from data and privacy breaches.
Managing patents and copyright and defending breach allegations is critical in a sector driven by innovation.
Why do you need specialist life sciences insurance?
The life sciences industry is fast-paced, global and borderless, exposing you to new risks and liabilities, often in unfamiliar places – even legislation is struggling to keep pace.
The right insurance advice can make the difference. Does your insurance adviser really ‘get’ what you do you? Do they understand the value in your research and development (R&D) materials – the months of blood, sweat and tears invested in critical cell lines or a beautiful piece of code?
What about H&S on site? Do you have access to expert risk management that can help keep you, your people and anyone visiting your premises safe?
Insurance is traditionally based on precedent, but with cutting edge scientific endeavour there may be no precedent. That’s why it’s critical to work with a specialist life sciences insurance adviser who really understands your business model and has access to underwriters at specialist life science insurance companies and policy wordings.
From patent infringement insurance and R&D stock insurance to key person insurance for your masterminds, our holistic approach extends far beyond operational risk to address the wider 21st century risks you face – cyber risk, your people risk and your stakeholder risk.
If you’re expanding internationally from the United Kingdom, we can help with risk management and insurance advice around that too.
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With the surge in cyber risk and counterfeit drugs, the rapid Covid-fuelled digitisation of healthcare and the “war for talent”, insurance is just a part of managing risk in the life science sector. We work with our clients to provide the right advice for them, taking a holistic approach that equips them with the insight to make informed decisions.