What is Indemnity Insurance for Life Sciences?
Protection for claims arise out of the possibility of damage or bodily injury stemming from pharmaceutical products, clinical trials or medical devices that are utilised in clinical research and the pharmaceutical products market. This can often include reputational damage, product recalls and loss of income.
As an independent Broker at Lloyd’s, we specialise in the placement of healthcare liability insurance in the UK for hundreds of life sciences and pharmaceutical companies and contractors each year. We are operated by doctors, for doctors – thus understand your insurance requirements and how we can add value to you.
We're Here to Help if You...
- Have had claims in the past and you are paying ‘over the odds’ for your current indemnity.
- Are not sure if you are insured appropriately.
- Would like Servca to carry out a silent review to compare your current insurance coverage versus that able in the market place.
- Are not sure if you are indemnified to the minimum regulatory standards.
- Feel your indemnity could be declined elsewhere because it is of a high-risk nature.
- Require a crisis response and product recall expenses to be paid.
- Are facing reputational damage.
- Are not currently receiving the full level of standard cover.
- Feel your products are manufactured and distributed internationally.
- Are a start-up and need advices on your requirements for insurance.
Our Objectives in Helping You
- To provide you with the indemnity to allow you to develop and distribute products that could affect and help people around the world.
- To enable you to make a difference in people’s lives by offering your product and or trial results.
- To provide you with peace of mind.
- To identify your exposures and vulnerabilities and protect against them.
- To manage your annual premium on a yearly basis, in line with your business revenue.
- To assist you in the growth of your company and provide advice and assistance on how to do so.
- To offer financial stability to you.
- To offer you flexibility in your policy and coverage.
What We Will Do For You
- Tailored polices direct from Lloyd’s of London that include:
- Property Damage & Business Interruption
- Errors & Omissions/Negligence
- Products & services liability
- Clinical Trials Liability
- High Tech equipment liability
- Property & Business Interruption
- Stock and Research Materials
- Risk management solutions
- Crisis Containment
- Advice & Consultations with regulators such as MHRA
- International coverage
Benefits of working with Servca
High Quality Cover and Service We develop bespoke insurance solutions for our clients that are cost-effective and offer cover to protect our clients' interests, backed by 'A' rated insurers.
Contract-Certain Cover Unlike other providers, a policy from us will always protect you from negligence, covering you for any claim made during the active time of coverage, giving you complete piece of mind and security.
Market Comparisons We speak to all possible medical malpractice insurers and arrange a variety of quotes for you to consider so that you have different options to choose from.
Bound by FCA regulations and Treating the Client Fairly Everything we advise, do and commit to is regulated by the FCA and we obliged to always look out for the best interests of our clients.
No Excess In the vast majority of cases, you will have no excess to pay in the event of a claim.
Specialist Medical Indemnity Broker As pioneers in the healthcare liability insurance sector, we offer all our valued clients unrivalled advice and access to the world's largest insurance market (Lloyd's of London). Our Managing Director is a Medical Professional, so we fully understand your needs and tailor policies to suit you.