Life Sciences Start-up Insurance

Stepping out on your own can be a daunting but exciting prospect. While you get to see your ideas come to fruition, you are also responsible for managing the risks that your new business will face. Effective and efficient management of intellectual property, products, and capital assets is essential for developing companies to thrive.

With comprehensive insurance for life science start-ups, you can rest assured that your business can be protected. Gallagher’s Life Sciences Practice has been supporting innovative early-stage companies for over 25 years, spanning traditional biotechnology, medical devices and digital health.

We serve as an insurance broking partner to companies in the early stages of development and our commitment to our clients means that we continue to provide support as they grow and reach key milestones, whether that means conducting clinical trials or preparing for an IPO.

What is life sciences start-up insurance?

Our insurance for new life science companies offers comprehensive and specialist coverage at competitive rates. It helps protect companies from a variety of risks unique to the life science industry, such as product contamination and loss of research and development expenditure.

While you may not want to commit a large section of your budget to insurance, a good policy could be the key to a successful business venture. We believe it is one of the most sensible forms of business continuity planning in the early stages of your development. Here at Gallagher, we understand the need to minimise start-up costs, while still securing comprehensive cover from specialist insurers who understand the needs of your business.

What other services do you provide for life sciences start-up companies?

In addition to our specialist insurance for life science start-ups, we provide risk management and crisis containment services to help give your company the best chances of success. Our team of specialists have the knowledge and know-how to guide you through every stage of your development, advising on regulatory requirements at both a local and global level.

We will work with you to protect your R&D expenditure and to understand the risks that may prevent you from achieving key milestones. As your business evolves, we will be able to support your expansion – whether you require advice on navigating the international insurance market or help understanding your supply chain or clinical trials exposure. During risk management planning, we may look at licensing agreements, regulatory requirements and intellectual property management, plus much more.

Who do you work with?

We are the partner of choice for over 3,000 companies across the world and have over 25 years’ experience helping life sciences start-ups achieve their goals. Our client base includes medical technology manufacturers, biotech firms, medical supply companies, laboratories and clinical research centres.

What should I do if I need to make a claim on my life sciences start-up insurance?

We hope you never need to, but if you do, it’s simple to make a claim on your life sciences start-up insurance. Get in touch with our team and we can get your case in motion. We handle all our claims in-house, which means you’ll have a dedicated Gallagher claims handler. They will work hard to get you the right result.