What is Indemnity Insurance for Life Sciences?
Protection for claims arise out of the possibility of damage or bodily injury stemming from pharmaceutical products, clinical trials or medical devices that are utilised in clinical research and the pharmaceutical products market. This can often include reputational damage, product recalls and loss of income.
As an independent Broker at Lloyd’s, we specialise in the placement of healthcare liability insurance in the UK for hundreds of life sciences and pharmaceutical companies and contractors each year. We are operated by doctors, for doctors – thus understand the insurance requirements required by the life sciences sector, and how to best add value to you as a broker.
We're Here to Help if You & Your Client...
- Have had claims in the past and your client is paying ‘over the odds’ for their current indemnity.
- Are not sure if they are insured appropriately.
- Would like Servca to carry out a silent review to compare their current insurance coverage versus that able in the market place.
- Are not sure if they are indemnified to the minimum regulatory standards.
- Feel your indemnity could be declined elsewhere because it is of a high-risk nature.
- Require a crisis response and product recall expenses to be paid.
- Are facing reputational damage.
- Are not currently receiving the full level of standard cover.
- Your client feels their products are manufactured and distributed internationally.
- Are a start-up and need advices on their requirements for insurance.
Our Objectives in Helping You & Your Client
- To provide your client with the indemnity to allow them to develop and distribute products that could affect and help people around the world.
- To enable them to make a difference in people’s lives by offering their product and or trial results.
- To provide your client with peace of mind.
- To identify their exposures and vulnerabilities and protect against them.
- To manage their annual premium on a yearly basis, in line with their business revenue.
- To assist them in the growth of your company and provide advice and assistance on how to do so.
- To offer financial stability to them.
- To offer you flexibility in your client's policy and coverage.
What We Will Do For You & Your Client
- Tailored polices direct from Lloyd’s of London that include:
- Property Damage & Business Interruption
- Errors & Omissions/Negligence
- Products & services liability
- Clinical Trials Liability
- High Tech equipment liability
- Property & Business Interruption
- Stock and Research Materials
- Risk management solutions
- Crisis Containment
- Advice & Consultations with regulators such as MHRA
- International coverage