Life Sciences & Pharmaceuticals

Due to the unique nature of the Life Sciences sector and the inherent risks associated with its activities, it’s crucial for companies operating in the sector to have comprehensive Property & Casualty (P&C) insurance coverage. P&C insurance provides protection against damage to property and liability for bodily injury or property damage caused by a company's operations or products.

Gallagher Specialty provides Property insurance for the physical assets of Life Sciences companies — including buildings, laboratories, equipment and inventory — against perils such as fire, theft and natural disasters. Given the high-value assets and specialized equipment involved in Life Sciences research and production, Property insurance is vital to safeguard against financial losses and interruptions to operations.

Our Casualty team also provides liability coverages; because Life Sciences companies develop and manufacture drugs, medical devices and other healthcare products, there’s always a risk of product defects or failure that could result in harm to patients or users. Product Liability insurance provides coverage for legal defence costs, settlements and judgments arising from claims of bodily injury or property damage caused by a company's products. We also offer General Liability that protects against third-party claims for bodily injury or property damage resulting from non-product-related incidents. General Liability insurance can include coverage for premises liability, advertising injury and personal injury claims that may arise from a company's day-to-day operations.

By securing appropriate P&C insurance, these organisations can focus on advancing scientific innovation and healthcare, while having peace of mind knowing they’re protected against liabilities and property damage.

Decisions you make, whether as a director or an officer of a business, can resurface months or even years later in the shape of a personal claim against you. D&O insurance can help protect your personal assets in the event of legal action.

We offer directors' and Officers' insurance (D&O) including Side-A 'difference in conditions' cover. Liability covers include Pension Trustee Liability (PTL), Employment Practices Liability (EPL) and Transaction Liability, including Warranty and Indemnity (W&I). We also offer prospectus insurance for capital raisings, including IPOs, and for crime.

With over 450 clients across 20 unique industries and 6 continents, our team is armed with the wide-ranging experience needed to protect the personal assets of high net worth individuals and the companies that rely on them for success. While we have experience of large and complex risks, even our smallest clients get the benefit of our broad experience.

With one of the strongest portfolios in the London market, Gallagher Specialty prides itself on its specialist field of medical malpractice insurance and can provide bespoke insurance for healthcare-related risk.

Medical malpractice insurance for your business

Our medical malpractice insurance can protect your company (including worldwide), and meets NHS contractual requirements. We also provide specialist advice on risk management, helping you to mitigate risk, which may enable you to prevent claims before they can arise. All of our clients have access to our in house medico legal expert.

Your medical malpractice cover could include professional indemnity insurance; material damage; legal expenses (with CQC and CCG extensions); loss of revenue; employers', product, cyber and public liability insurance; employment practice liability for directors and officers; and locum insurance.

Medical malpractice insurance for individual practitioners

We champion an insurance solution as a contractual obligation of indemnity, delivered by specialist medical indemnity underwriters. The merits of this offering is that an indemnity will be there to support you when needed, as it is underpinned by an insurance contract rather than a discretionary indemnity arrangement, such as those offered by mutual providers. Your bespoke cover will include clinical negligence claims, inquests, contract disputes, crisis communications, GMC and disciplinary investigations. Our medico-legal advisory service has over 25 years' experience of defending and advising doctors and surgeons through a variety of complex cases.

Businesses in many sectors are at risk of product recall — we work with pharmaceutical, medical device manufacturing, automotive and consumer goods companies. With regulatory oversight expanding, there

is a greater possibility for consumer products to fall short of exacting safety and quality standards. Add to this the increasing complexity of global supply chains; there are liabilities for those involved at each stage of the product journey.

Our specialist team can conduct a comprehensive examination of your exposure in order to help you mitigate loss, working directly with some of the leading insurers and underwriters globally to design a programme to respond to your risk.

Whether you require Product Recall or Product Contamination insurance, we can negotiate coverage to help ensure your business is protected against the financial costs of a voluntary or involuntary product recall event.

Developing resilience to cyber liability is now a significant challenge for businesses of every size. Instead of offering a generic off-the-shelf cyber insurance policy, our specialist team takes a consultative approach, designing a cyber-protection programme that is carefully tailored to your industry and even your particular business, from mid-size firms to multinationals.

Coverage can include:

• Cyber extortion
• Cyber terrorism
• Data asset loss
• Cost of responding to a breach
• Regulatory investigations
• Defence costs, civil fines and penalties
• Business interruption
• Loss of income
• Multimedia liability
• Extensions are also available for reputational damage and cyber-crime.