Research Insurance for Biotechs
If you are a business or organisation that centres on scientific and biotechnology research and development, your innovative and exciting work could be helping to shape our lives in the future. We know that to make advances in any field you are likely to encounter potential risks, which may result in unexpected outcomes, leaving you open to financial and reputational damage.
We care about the risks your business faces and will commit to providing an exceptional service from our highly experienced team, so you can leave any insurance worries aside and continue your ground-breaking work.
In this sector product development can refer to medicines and devices, each bringing its own set of risks during the research and development stages, requiring specific insurance covers. No matter what stage of the R&D process you are at, we can support you with advice and guidance on the right cover for optimum protection.
We can arrange a programme of covers which could include clinical trials insurance, laboratory insurance, property damage, business interruption, errors and omissions/negligence, medical product liability insurance, general liability, contamination, professional liability and all risks – the final package will depend on your situation and requirements.
A dedicated account executive, who has excellent knowledge of this sector, will review your risk exposure with you, looking at your existing cover for potential gaps and to see if you’re over or underinsured in any areas. This will help to ensure that if something should go wrong, you will have a robust insurance policy in place, protecting you and your staff.
As an independent commercial broking business, you can be assured that the advice and guidance we provide is entirely impartial – you can be confident that the insurance we propose will be exactly what you need. You can find out more about the insurance you may require at each stage of the research and development journey here.
Arrange to speak to one of our expert advisers about your research insurance requirements or any risk mitigation query – just fill in the form and we’ll be in touch.
Who is it for?
From start-up, through research and development and clinical trials, to product manufacture and worldwide sales, we can arrange insurance for businesses and organisations that carry out scientific and biotechnology research and development in the following sectors:
- Pharmaceutical
- Biotechnical
- Medical devices (manufacturing and distributing)
- Food supplements and dietary products
- Laboratory instruments and equipment
- Contract research and manufacturing organisations
- Clinical trials
- Start ups
Available cover includes
- Public liability / products liability
- Professional indemnity
- Clinical trials liability
- Employers’ liability
- Entity defence
- Intellectual property
- Key man insurance
- Directors’ and Officers’
- Property damage
- Business interruption
- Specified all risks
- Transit
- Cyber liability
- Contamination, radioactive or environmental cover
- Public utilities
- Denial of access
- Restrictions to premises
- Customers / suppliers extension
- Product withdrawal expense
In addition to scientific and biotechnology research insurance, we can also assist with risk management advice to help protect your organisation. We can provide you with access to a host of free information and training courses for areas such as Fire Safety, H&S and HR or for more specific requirements our knowledgeable team is always on hand to offer complete guidance and support.
Why choose us?
- Exceptional service – we understand the insurance needs of the scientific and biotechnology research sector and can offer honest advice
- Reassurance – as an independent broker we have access to market leading products from A rated insurers
- Freedom from worry – we help you to manage your risk so you can focus on your projects
- A personal approach – your dedicated account executive is available when you need advice
- Tailored solutions – you get the right cover for your needs
- More than just insurance – we offer additional guidance on business risk management including H&S and HR
- We partner with A rated insurers – you receive impartial advice you can trust
- Here to help with claims support – on hand to answer your questions and offer guidance for a fast and fair outcome
- Flexibility – we may be able to arrange competitive finance to spread the cost on a monthly basis through our partnership with Close Brothers Premium Finance
