Insurance Solutions for Biotech & Life Sciences Manufacturers
As a biotech company, do you find yourself asking if your current insurance program will protect your assets and investments in the event of a significant loss? Your business faces certain risks that need specialized insurance coverage, most importantly liability for bodily injuries to those participating in clinical trials.
Typically, claims relating to clinical trials are specifically excluded under a general liability insurance policy. You need a well-crafted endorsement that provides coverage for bodily injury arising out of clinical testing and for claims made by trial subjects involving the product and administration of the test.
You may also need additional coverage for:
- Product Liability: to protect against claims made by consumers that the drug allegedly caused bodily injury
- Directors & Officers Liability: to protect against lawsuits for unexpected financial losses and drops in share prices
- Business Interruption: to cover loss of income after a disaster
- Cyber Security Liability
At McGrath Insurance, we can analyze the unique risks of your company and tailor an insurance program to your needs for a competitive price.
Contact us at 508-347-6850 to schedule an insurance risk management audit of your business today.