From research & development to global clinical trials, life science companies face a myriad of risks. The complexity of insurance and risk management options for the life sciences industry further complicates the risk landscape for these companies. techAssure members have served the life science sector for over 20 years and work with the leading insurance markets to develop and improve coverage options and availability. And, with TechAssure’s expertise in managing cyber risks, our members can deliver cutting edge programs designed for the risks of today and tomorrow. 

LIFE SCIENCE SECTORS OUR MEMBERS SERVE
  • Pharmaceutical
  • Biotechnology
  • Medical Device Manufacturing
  • Supplements + Nutraceuticals
  • Digital Health
  • Contract Research Organizations
  • Medical Product Distributors
  • Health Informatics + Diagnostics
  • Bioengineering

Due to the unique exposures and various insurance policies involved, life science companies often have gaps in their insurance programs due to insufficient broker knowledge and understanding of their industry. TechAssure members specialize in life science risk and understand how to identify the gaps in coverage and reduce the total cost of risk.

COVERAGE EXPERTISE

Products Liability
Professional Liability (E&O)
Cyber
Directors & Officers (D&O)
IP/Media
Clinical Trials
Product Recall
Multinational
Marine

RISK INDEX

Product Failure/Recall
Bodily Injury to Patients
Perishable Cargo
Regulatory Action/Compliance
Data Breach/Cyber Incident
IP-issues

Experienced in Life Sciences.

Global Broker/Policy Coordination. 

Regulatory Compliance.

TechAssure members share best practices among one another and with our industry partners. This leads to consistent education and training on the risks the life science sectors face. Additionally, our members receive regular claims updates from the network and the carrier marketplace – ensuring that our members know the nature of the claims occurring and how to model successful outcomes based on the current claims environment.

My job has been so much easier since we started working with a TechAssure member. To start, they were able to right-size our coverages and eliminate redundancies, which gave us coverage for less money. We quickly had to increase coverages and this was turned around quickly. But, the biggest impact the team has is assisting us with questions of coverage that come from customers. Having them to call on helps us stay focused on our core values, as they bring a level of expertise about liability in the digital health industry that none of us possess.

VP of Finance of an Inc500 Digital Health Company
Related Posts
BLOGDirectors and Officers LiabilityLife SciencesSecurityTechAssureTechnology
September 26, 2013

Securities Class Action Lawsuits Against Life Science Firms on the Rise

. Executive liability is a large threat for all sizes of technology and life science firms.  In addition to litigation damages and expenses, companies face distractions, and loss of corporate...
CyberliabilityRisk Management
March 12, 2013

Examples of Network Risk Exposures Help Firms Identify Need for Assistance

January 4, 2013 – In general, Network Risk Insurance protects your com­pany from risk and liabilities associated with processes and commerce through computer networks. There are many examples of network...
BiopharmaceuticalsLife SciencesRisk Management
April 18, 2013

TechAssure Risk Survey Highlights Challenges in Regulatory and Legislative Risks for Life Science Firms

The 2013 TechAssure Risk Survey highlights the challenges in regulatory and legislative risks for biopharmaceuticals and life science firms. The Biopharmaceuticals and life sciences sector was also included in the...
BLOGCanadaCyberliabilityNetwork RiskPrivacySecurityTechAssure
June 10, 2013

Are You Ready for Canada Privacy Reform?

Coming to Canada soon! Are you ready? Canada’s Federal Privacy Commissioner has released a roadmap for getting Canada’s federal private-sector law ready for the future. Big Data and changes in...