Life Science Insurance

Life Science firms vary widely – if you are a biotechnology firm your risks differ from those of a Contract Research Organization (CRO), and both differ from those of a contract manufacturer. And nascent startups have different concerns than a company going through its first Phase I trial, its IPO, or one entering commercialization.

The goal of any insurance/risk management program is the same:

Discuss, identify, analyze, handle (whether that be insurance or contractual risk transfer) and monitor the various exposures and risks presented by you as an individual life science company.

Having worked for several decades with life science firms – inclusive of biotechnology firms, contract manufacturers, CROs, clinical sites, and others – Sullivan Group is one of a select number of brokers who have the knowledge and expertise needed to assist and guide you as your organization develops, grows, and changes.

The life science industry is dynamic and is constantly evolving.

Why not put our expertise and knowledge to use for you – we can help to improve your bottom line (reduced premiums equates to reduced expenses) while either improving or maintaining integrity of coverage in the event of a claim.

A few areas of our expertise include:

  • Exposure identification, risk analysis, and risk reduction
  • Contractual Risk Transfer between sponsors, CROs, IRBs, SMOs, research sites, manufacturers, landlords, and related third parties
  • Clinical Trial Liability – both domestic and international
  • Professional / E&O Liability
  • D&O Liability – Private, IPO, and Public company (non-profit as well)
  • Supply Chain protection for your drug products and related materials
  • Manufacturer’s E&O Liability
  • Intellectual Property Liability