Specialist insurer Beazley has enhanced its life sciences insurance offering in the UK with the launch of a new policy designed to protect the sector’s small and start-up research & development-focused organizations.
This follows the UK launch of Beazley’s internationally focused middle market life sciences cover in 2019, and builds on the company’s experience in writing clinical research risks globally for more than 20 years.
Life sciences insurance for small business provides broad UK cover complementing Beazley’s middle market offering, which provides capacity for international risks, up to £25 million ($32 million) Beazley’s new offering for small businesses is focused on medical devices, clinical trials, diagnostic and testing laboratories, with capacity up to £5 million ($6.3 million).
Beazley’s new life sciences wording includes:
- Products liability
- Professional indemnity
- Public liability
- Clinical trials – no-fault compensation & legal liability
- Medical malpractice
- Claims made coverage.
There are options to include additional sublimits for: