Life Science Insurance

Looking for specialists in your field? You’ve come to the right place.

Life Science Insurance

R&D disasters. Production delays. Device or drug failures. Working in life sciences exposes you to a range of complex risks. It’s a sector we’ve specialised in for many years – so you don’t have to explain what you do or dumb down the details for us. We already understand how the different areas of your sector work. We’re aware of the pressures you face. And we know what it takes to protect your business.

What is Life Science Insurance?

Life Science Insurance provides specialist protection for anyone in the life sciences sector, from medtech and medical device startups to established bioscience and pharmaceutical companies. It’s a modular product – so you can combine all the cover you need in a single policy with the convenience of one renewal date.


“Creating solutions to the world’s problems doesn’t come without its fair share of risks and challenges. Whether it’s biotechnology, pharmaceuticals, biomedical technology or agriculture, where human health and well-being is involved, product safety is critical. When things go wrong, the impact on a business can be devastating. Protecting the process, the product and the brand are all key elements of a Life Science Insurance policy ”

– Tony Gibbs, Life Science Insurance specialist at Macbeth

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How Life Science Insurance protects you

To build a comprehensive policy, specialist life science insurance brokers like Macbeth will select from a range of cover options, including special risks such as contamination, machinery breakdown, spoilage of perishable stock and ideologically motivated attacks. You can have worldwide protection, including the US. Or your cover can be for specific locations – a good way to keep premium costs down. 

Our specialist team will put together an insurance policy that covers all the risks you might face in your field.

  • Product liability

    Specialist life science insurance companies will include efficacy cover for the risk that a product might fail to carry out its intended function

  • Clinical trials

    We’ll set up a policy to reflect where in the world the trials are taking place

  • Business interruption

    You can be covered for a loss of profit or R&D funding if you’re unable to continue working at full capacity

  • Intellectual property

    Your policy can also cover the legal costs to pursue or defend an IP claim

  • Employer’s and public liability

    As well as compensation claims made by employees and members of the public, Life Science Insurance can include cover for claims made by clinical trial participants

Why you should consider Life Science Insurance

  • Life Science Insurance not only enables a company to focus on its core business activities without worrying about the risks, it also provides peace of mind for the users of a product or the participants in a clinical trial.

  • It’s important to include efficacy cover as part of your Product Liability Insurance, particularly if you’re involved in the medical sector.

  • If there are gaps in your cover an insurer could decline a claim, hitting company finances and damaging your reputation. With access to specialist insurers, we can ensure you’re protected against all the risks you face in your line of work.

  • Inadequate cover could prevent you from trading with customers such as the NHS – they require medical equipment suppliers to have £5m Product Liability Insurance.

  • It can take years to develop a product before it finally reaches the market. Although the initial costs are likely to be associated with research and development, it’s worth having insurance that also protects your future profits.

  • Where there’s a lengthy R&D stage, a fire at the lab or the death of a key member of staff can have serious consequences – so it’s worth including business interruption cover as part of a Life Science Insurance policy.

Including efficacy cover as part of your Product Liability Insurance is particularly important if you’re involved in the medical sector.

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Macbeth employee in conversation with a client
Macbeth employee in conversation with a client

Considering Life Science Insurance?
Talk to one of the Macbeth team.

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