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Life Sciences

Sophisticated underwriting and financial strength to support specialized needs

Life Science companies have unique exposures and risks. Zurich has the expertise and capabilities to identify risks and provide protection to support our customers in solving their unique challenges. We can help companies focus on what matters most – bringing products to market and enabling patients to benefit from their innovations.

With deep industry insights across the Life Sciences sector and a truly global footprint, we have the strength and expertise to offer an extensive range of robust risk engineering capabilities.

Why Zurich?

Our underwriting is built on a solid foundation of industry knowledge, with a consultative approach to help identify risk and suggest best practices. We focus on growth in the Middle Market segment and provide specialized insurance solutions across the life sciences sector. Our offering includes:

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Global footprint

Life Sciences companies can have exposures beyond their home country. As a global player, we can support them around the world.

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Customer-centric approach

We focus on excellent customer service to build long-term business relationships. Thanks to expert claims handling, customers receive prompt and adequate claims settlement when they need it most.

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Financial strength and stability

As one of the largest and most financially stable insurance companies, we offer peace of mind and seek to pay claims quickly

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Digital solutions and wider support

We invest in technology to provide cutting-edge solutions, including My Zurich, our self-service global digital platform providing real-time access to policy data, claims tracking, and risk engineering insights.

Your end-to-end provider for life sciences insurance

  • We offer options for business interruption coverages for Gross Profit and Gross Revenue, with industry specific coverages.
  • Off-premises coverage for research and development property is available.
  • Sudden and accidental triggers are built in for key coverages, like contamination and changed in controlled environments causes of loss.
  • We take an agreed value approach for property with hard-to-calculate replacement cost.
  • We offer Standing Charges Business Interruption insurance.
  • We provide broad coverage capabilities with product liability capacity up to a limit of USD 25m.
  • We offer professional services liability for risks such as Clinical Research Organizations.
  • Our coverage extensions include clinical trials (compassionate use and expanded access) and product withdrawal, along with errors and omissions.
  • We have the underwriting expertise to place clinical trial cover globally.
  • We offer life of trial policies in most countries, with fast and easy access to certificates in a range of languages.
  • We have the turn-around capabilities to meet the rapid requirements of clinical trial sponsors.
  • We can protect a travelling workforce against complex and far-reaching risks with cover designed to meet the specific needs of life science companies.
  • We can cover participants enrolled in clinical trials with specific product extension.
  • Our offering includes physical loss or damage to goods while in transit.
  • We cover temperature-controlled and sensitive goods, with a flexible basis of valuation and control of damaged goods.
  • Our Stock Throughput policy can cover goods in store as well as in transit throughout the entire supply chain.
  • Our specialized expertise can help organizations proactively manage complex risks.
  • We offer risk assessments across product design, manufacturing and distribution.
  • We monitor the judicial trends and claims evolution to help mitigate risks that could result in substantial liabilities.
  • We can help improve resilience by identifying the range of risks to a supply chain.

Expert support across the globe

200 +
countries and territories served through our global network
3300
claims professionals
1000
Risk engineers and consultants in 40 countries

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FAQ

Insurance for life science companies offers tailored products and services to address the specific needs of organizations involved in areas such as, medical devices, pharmaceuticals, biotech, research and development, clinical trials, and nutraceuticals. Any risk associated with developing, manufacturing, and commercialization of products or services used by healthcare providers or individuals to prevent, diagnose, or treat diseases or illnesses is considered a life science risk. Companies qualifying as life science companies are for example:

R&D companies
Clinical Research Organizations (CROs)
Contract manufacturers
Component manufacturers
Wholesalers/distributors
Service providers: supporting product development (e.g., formulation, analytics)

Life science companies have unique exposures that may differ from other industries. Insurance companies can help identify exposures and provide coverage to protect life science companies against risks that may impact their ability to bring products to market.

Life science companies need to consider a broad range of coverages. Zurich’s insurance for life science companies may cover the following:

  • Property insurance
  • General Liability insurance
  • Product Liability insurance
  • Professional Liability insurance
  • Employees Liability insurance
  • Personal accident and business travel protection for employees traveling abroad
  • Marine Cargo for insuring transit of goods

Contact us

Should you have any questions or need further information please reach out to your local Zurich contact or your broker.

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