Beazley Life Sciences

BeazleyLife SciencesLife sciences risks present myriad exposures in needof expertly crafted coverage. Beazley’s life sciencesteam offers a flexible, innovative and client-focusedapproach to underwriting this class of risk.

BeazleyLife SciencesThe definition of ‘life sciences’ is the scientific studyof living organisms – such as microorganisms, plants,animals, and human beings. It’s a science that isconstantly evolving with the expanding knowledge intechnology, genetics, neuroscience, and bioengineering.The life sciences landscape is vast and ever-changingwith new technological breakthroughs in pharmaceuticalsand with science advancement. As the human populationcontinues to live longer, new developments in the lifesciences industry will continue to offer products andsolutions that require careful insurance risk analysis toensure the people, products and facilities are protected.Established leaderAs an established leader and innovator in the insurancemarkets for healthcare, technology and cyber, we havebeen able to draw on the experience of underwritinglife sciences risks globally for over two decades.Beazley’s Life Sciences team sits within the overarchinggroup called Miscellaneous Medical & Life Sciences.The Miscellaneous Medical & Life Sciences team bringstogether industry knowledge and expertise in a variety ofrisk categories that showcase our breadth of appetitewithin their respective industries. By combining ourunderwriting teams under one umbrella, we havecreated an environment that fosters collaboration andoffers our policyholders a broad spectrum of complexrisk insurance solutions. Our appetite is vast andincludes bespoke policy wordings for areas such aslife science products, service providers, allied health,nutraceuticals, telemedicine/telehealth, and hospitalrisks. Our underwriting and claims teams workhand-in-hand on solutions for our policy holders; thisalliance is unique to Beazley and truly sets us apartin the market. We have a wide range of coveragesin various combinations of medical professional liability/general liability/employee benefits liability/productsliability/errors & omissions (financial loss) andunderwrite primary, excess, excess follow form andumbrella.

BeazleyLife SciencesRisk and exposures for life sciences companies todayProducts Liability Insured’s hair product allegedly did not includeadequate warnings, and customer lit a cigarettebefore application, causing a fire and burn. A patient sues insured pharmaceutical manufacturerunder design defect and failure-to-warn theories afterdeveloping breast cancer allegedly caused by theinsured’s hormone replacement therapy. The plaintiffalleges that the insured knew or should have knownof the risks from clinical trials and post-marketingstudies but that the label did not include an adequatewarning when plaintiff was undergoing therapy. Plaintiff the spouse of a deceased clinical trial subjectsues insured pharmaceutical manufacturer sponsorof clinical trial for wrongful death on the basis thatinsured allegedly negligently failed to provide informedconsent of the cardiovascular adverse effect thatallegedly caused decedent’s death.Healthcare Professional Liability Insured medical device representative is alleged tohave provided insufficient information to a patientregarding known potential complications. The patientexperiences a known complication associated withdevice and sues under a lack of informedconsent theory. Plasma donor alleges she lost consciousness afterdonating at Insured Plasma donation center becausethe Insured employee allowed her to leave prematurelyresulting in a fall and serious injury. Insured sperm bank is sued based on allegations thatsperm was not properly tested for genetic conditionresulting in child with genetic illness.Errors and Omissions Plaintiff corporation sues Insured Clinical ResearchOrganization alleging that there was a dosing errorduring Phase II of clinical trial resulting in one yeardelay in trial, need to repeat part of study and failurefor plaintiff corporation to be first in market place withnew drug. The insured contract manufacturer allegedly includedthe wrong size screw in the packaging of a medicaldevice, causing economic losses for the holder of the510(k) clearance, although no adverse events havebeen reported.General Liability Janitorial company employee injured while performingservices at Insured laboratory. Plaintiff alleges she sustained bodily injury trippingover exhibit at Insured’s vendor booth at IndustryConference. Plaintiff reseller sues insured manufacturer ofdietary supplements for defamation, alleging thatthe insured stated online that plaintiff was sellingcounterfeit goods.

Three pillars of cover available on distinct product formsBioSecureNutraguardA flexible, innovative and client-focusedapproach to underwriting life science relatedrisks. Life science risks come in many formsincluding sponsors of clinical trials, medicalequipment and device manufacturers, brandedpharmaceutical manufacturers, blood/tissueand organ banks, and clinical researchorganizations. BioSecure offers a broad,flexible policy to meet the current andemerging needs of the sector. Coveragesinclude errors & omissions liability, products/completed operations, healthcare professionalliability, general liability, medical paymentsand medical monitoring expense coveragefor both clinical trials and sold products.Nutraceutical products take numerous forms,and target a vast array of wellness and lifestyleissues. Drawing on extensive experience,Beazley is proactive in helping our nutraceuticalinsureds protect their operations worldwide.Beazley provides a broad, flexible policy to meetthe needs of the nutraceutical industry.Coverage available primary and umbrella,products/completed operations, general liability,advertising/personal injury, employee benefitsliability, fire legal liability, medical expenses,professional liability, errors & omissions andproduct recall expense. Our broad appetiteof risks includes dietary supplements,personal care products, cosmetics, selectover-the-counter drugs.Miscellaneous medicalProtection against medical professional liabilityexposures arising out of a wide range ofhealthcare related businesses including hard toplace risks. In addition to providing coveragesthat are standard in the marketplace formiscellaneous medical professional liability,Beazley policies offer some distinct benefits: Choice of ‘primary,’ ‘duty to defend’ and ‘payon behalf of’ coverage for smaller risks thatdo not have access to the necessary claimshandling expertise Claims cooperation/indemnification productsavailable for larger risks with either in-houseor appointed third party claims handlingexpertise, and the ability to fund significantself-insured retentions Both insurance and captive reinsurancesolutions – these can be primary and/orexcess follow form (subject to the underlyingterms, conditions and carrier).Furthermore, Beazley policies provide broad coverage that includes: Various combinations of miscellaneous medical professional liability/general liability/employee benefits liability/errors & omissions (financial loss) coveragesProducts liability/completed operationsExcess/umbrella policies including auto, and employer’s liabilityGeneral liability on an occurrence basis on selected risksCoverage for employed and contracted physicians on a shared limits basis.

BeazleyLife SciencesCover highlightsWho we can insureBeazley offers a flexible, innovative and client-focusedapproach to underwriting this class of risk.A wide range of life sciences organizations within themiddle to large-sized market up to US 25,000,000 incapacity. Primary and excessErrors and omissions liabilityHealthcare professional servicesProducts/Completed operationsGeneral liability (CM/Occurrence)Clinical trial medical expense/Medicalmonitoring expenseProducts medical expense/Medical monitoring expenseSexual misconductFire damage legalProduct recall expense (Class I).Territories Global life sciences companies with worldwide claimscoverage.Complementary products to consider PharmaceuticalsBlood and tissue banksNutraceuticals/Dietary supplementsMedical devicesBiotechnologyContract research organizationsContract manufacturing organizationsSite management organizationsAcademic research InstitutionsWholesale and retail distributionSponsors of human clinical trialsLab/Diagnostic services.EnvironmentalCyberProducts recallD&OTechnology errors and omissions.

Beazley Insurance Services101 California StreetSuite 1850San FranciscoCalifornia94111USACA Lic. #0G55497T 1 (415) 263 4040F 1 (415) 263 4099Contact usYou can learn more about how Beazley life sciences can help your clients by contacting:Marc Amis – San FranciscoT 1 (415) 263 4075marc.amis@beazley.comMatthew Zagwoski – PhiladelphiaT 1 (215) 446 8447matthew.zagwoski@beazley.comJohn Livatino – ChicagoT 1 (312) 476 6238john.livatino@beazley.comSarah Fiorito – Los AngelesT 1 (213) 228 7716sarah.fiorito@beazley.comNatalie Mauro – New YorkT 1 (212) 801 7209natalie.mauro@beazley.comNat Cross – LondonT 44 (0)20 7674 7236nat.cross@beazley.comJulie Miglin – PhiladelphiaT 1 (267) 534 8477julie.miglin@beazley.comEvan Smith – CanadaT 1 (416) 777 6884evan.smith@beazley.comThe descriptions contained in this broker factsheet are for preliminary informational purposes only. Coverages are underwritten by Beazley syndicates at Lloyd’sand will vary depending on individual country law requirements and may be unavailable in some countries. Coverages are available in the US only on a surpluslines basis through licensed surplus lines brokers. The exact coverage afforded by the product(s) described in this factsheet are subject to and governed by theterms and conditions of each policy issued. The publication and delivery of the information contained herein is not intended as a solicitation for the purchase ofinsurance on any US risk.beazley.comBZSL047 US 03/21BeazleyLife Sciences

Life Sciences The definition of ‘life sciences’ is the scientific study of living organisms – such as microorganisms, plants, animals, and human beings. It’s a science that is constantly evolving with the expanding knowledge in technology, genetics, neuroscience, and bioengineering. The l