Specialist insurer Beazley has announced the launch of a new life sciences policy designed for small businesses, called BioSecure.
The proposition offers insurance protection against a range of exposures in the pharma, biotech and medical device sectors.
Beazley believes the product will build on its experience in underwriting life sciences risks and managing claims for middle to large-sized clients, which it has done for more than a decade.
By introducing BioSecure to smaller, private enterprise (PE) clients, Beazley also plans to underwrite risks such as clinical trials, medical device manufacturers, drug delivery systems and surgical equipment suppliers.
BioSecure provides worldwide coverage for US-domiciled PE firms, and includes products/completed operations, clinical research & healthcare professional services, clinical trial medical expenses & monitoring expenses, and general liability.
Kathryn Janofsky, Beazley’s head of US Private Enterprise, commented: “As the life sciences sector continues to expand at a rapid pace, we see a great opportunity to enhance our offering to meet the needs of innovative organizations and start-ups that are often exposed to complex and emerging risks.”
She continued: “BioSecure for private enterprises delivers a tailored, comprehensive solution supported by a first-class, highly responsive claims service to the rapidly evolving medical sector.”
