Beazley has launched its BioSecure policy, a life sciences proposition designed for small businesses. The coverage provides flexible insurance protection against a range of exposures in the pharma, biotech and medical device sectors.
By introducing BioSecure to smaller, private enterprise (PE) clients, Beazley will also be underwriting such risks as clinical trials, medical device manufacturers, drug delivery systems and surgical equipment suppliers.
The policy provides worldwide coverage for US-domiciled PE firms and includes:
- Products/completed operations
- Clinical research & healthcare professional services – negligent act, error or omission
- Clinical trial medical expenses & monitoring expenses
- General liability
According to Kathryn Janofsky, Beazley’s head of US Private Enterprise, Beazley has enhanced its offering to meet the needs of innovative organizations and start-ups that are often exposed to complex and emerging risks.
Beazley plc is the parent company of specialist insurance businesses with operations in Europe, the US, Canada, Latin America and Asia. Beazley manages six Lloyd’s syndicates and in 2018 underwrote gross premiums worldwide of $2,615 million.
Beazley’s underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd’s.
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