Life Science & Medical Technology
Innovation and risk-taking are essential to the success of your company. You need to protect your company, your research and your resources with insurance solutions designed for businesses like yours.
Understanding the environment. Anticipating change.
With more than 25 years of experience insuring life science and medical technology companies, The Hartford knows what it takes to bring you the comprehensive coverage you need. That’s why we’ve partnered with Medmarc®, a leading expert in products and clinical trials liability risks. Together, we offer a superior breadth of knowledge and specialized understanding that protects your business and helps keep your company on the forefront of innovation. Here’s just a sample of the coverages and services we offer:
- Blanket Clinical Trial Insurance. Through our alliance with Medmarc, we offer blanket coverage for all clinical trials. This flat rate cuts out bureaucratic delays and unexpected paperwork while automatically covering new trials.
- Industry-Specific Coverages. These comprehensive coverages address common losses as well as unanticipated damage to items such as prototypes, research data and documents. These coverages also protect biological research materials, transit damage, product recall expenses and spoiled or condemned stock.
- Business Income Coverage. Covers challenges posed by lost grants or unique research expenses related to FDA recertification, extending the period of restoration. It also protects your business from income loss resulting from damage to research animals, prototypes or valuable papers and research records. Covers dependent properties and operating expenses for non-income operations.
- Specialized Liability Insurance. Medmarc coverage protects your company from liabilities involving medical devices, whether they are being tested in clinical trials or being sold worldwide. Devices include in vitro diagnostic tools, biotechnologies and pharmaceuticals. This coverage protects test subjects and consumers from bodily injury and adverse reactions to known or foreseeable side effects, regardless of fault.
- Real-time Workers’ Compensation Claims. Our @venture® risk-management information system is custom-designed for risk managers and available to eligible¹ life science and medical technology companies.
In addition The Hartford works with you as a true partner. We offer access to a wide array of professionals, educational opportunities and on-site training. To learn more about The Hartford’s insurance offerings, contact your Hartford agent today.
All coverages and services may not be available for all businesses or in all states. For details on what coverages and services are available to you, contact your agent at The Hartford today.
¹Generally accounts over $250,000 in premium.
This site outlines in general terms the coverages and services that may be afforded under a Hartford policy. All policies must be examined carefully to determine suitability for your needs and to identify any exclusions, limitations or any other terms and conditions that may specifically affect coverage. In the event of a conflict, the terms and conditions of the policy prevail. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc.