Companies from the Life Science sector often find it hard to implement adequate insurance protection. Major losses in the past (long-term implications) and claims for indemnification amounting to millions have caused restrictive underwriting policies by the liability underwriters in this industry.
Long gone are the times when limits and restrictions of general contract conditions and wordings only affected major pharmaceutical groups. More and more medium-sized medical devices manufacturers complain about exclusions and horrendous premiums. However, the resulting challenges also offer opportunities.
Our staff members are the best choice when it comes to sourcing suitable products in spite of the problems in the Life Science sector. They all possess the required expertise, they all know the domestic and international insurance markets and are aware of the traps and the chances for your company.
Our experts provide valuable tips on reasonable risk management and work out appropriate solutions for you, always bearing in mind your specific needs and interests.
We offer the following insurance protection to manufacturers of medical devices or pharmaceutical manufacturers:
- Solutions for side-effects and interactions of medication (synopsis)
- Liability insurances
- Coverage concerning the German Pharmaceuticals Act AMG (compulsory insurance under the AMG)
- Clinical trial insurances (study-related risks according to the trial protocol, study protocol)
- Protection against product defects
- Solutions for off-label use
- Solutions for silicone implants, cardiac pacemakers etc.