Life Science & Medical Technology
Protecting the Nucleus
of Your Business
As you focus on improving the well-being of the general public, you need an insurance carrier that focuses on protecting your business, so you can concentrate on the things that matter most.
Together, through an alliance with Medmarc®, we offer life science and medical technology companies insurance solutions including broad property and general liability coverage, plus extensive liability coverage to cover clinical trials, medical expenses, and more—all in one package.
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. We have developed coverage designed for the unique needs of life science and medical technology businesses, including:
- Medical device manufacturers and distributors
- Pharmaceutical manufacturers and distributors
- Biotech research and development companies
- Medical, drug and hospital equipment wholesalers
- Testing laboratories
- Clinical and contract research
Here’s a sample of the coverages and services we offer:
- Industry-Specific Property 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.
- Blanket Clinical Trial Insurance. Through our alliance with Medmarc, we offer blanket coverage for all clinical trials and products liability. This flat rate cuts out bureaucratic delays and unexpected paperwork while automatically covering new trials.
- 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.
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.
Medmarc teams with The Hartford to offer comprehensive insurance.
Watch several webinars, including "New Devices Mean New Risks" and "Medical Device and Drug Theft."
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Risk Management Tips
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