Insurance for Life Sciences and Pharmaceuticals Industry

Risk management solutions for life sciences companies are often complex and specialized. By choosing the Gallagher Life Sciences Practice, you will work with an insurance broker with thorough knowledge of your industry and the regulatory environment.

The Gallagher Life Sciences insurance and risk management team is ready to aid you with solutions that mitigate your risk and reduce volatility.

Global expertise

With service capabilities in over 130 countries, our global reach means we can provide you with the local service and advice you need to ensure you always remain compliant with local insurance legislation. From discovery to development to delivery, we have proven expertise in closing gaps to support you with comprehensive coverage.

Helping life science companies succeed

Globally, we are the broker of choice for over 3,000 life science companies. This scale of business enables us to leverage the marketplace on your behalf to achieve the broadest possible cover at a competitive level of premium.

Our experience and history in the business gives us actionable insight into the many layers and sectors of this dynamic field. We develop benchmarking studies that track costs and coverages, so you have access to trends and fluctuation and are able to plan accordingly. The Gallagher Life Sciences insurance experts have developed risk management programs for various Life Sciences customers, which include:

• Pharmaceutical companies
• Biotech firms
• Laboratories contract and clinical research and development facilities
• Drug manufacturers and drug wholesale manufacturers
• Medical device and supply companies
• Nutraceutical and food supplement companies
• Medical technology manufacturers
• Clinical trials facilities
• Academic institutions

Thought leadership beyond insurance

Our experience gives us insight into all aspects of the life sciences industry. We share this knowledge by consulting on issues related to business continuity, mergers & acquisitions, intellectual property protection, cyber protection to name a few key risk issues.

Solutions that fuel research breakthroughs

Our practice is designed to help you meet the unique risk challenges of the life sciences' industry, so you can focus on researching medicines and methods. Gallagher Life Sciences insurance and risk management specials are with you through each phase that includes:

• Planning: Deep analysis of the complex challenges facing life science companies whether it is for national or global. During this phase, we study your global operations, interdependencies, supply chain, human resources, regulatory and taxation requirements in each geography, mandatory cover requirements, product liability exposures and contract reviews and a holistic risk assessment.
• Design: Scope of Program, Local vs. global coverage programs for cost and coverage effectiveness within the regulatory environment to minimize program costs. Road shows for interaction with global insurers and reinsurers.
• Placement: Leveraging a comprehensive set of proprietary tools to support implement a strategic risk program for your organization. A 'just' premium allocation across each territory/entity.
• Administration and claims management: Documentations, service charter, regular monitoring of the charter and readjustments (if any), claims advisory and advocacy, risk survey and monitoring risk recommendations.