A specialized approach to life sciences
Life sciences organizations are faced with rapid advancements in technology and research, increased regulation, and demand for expanded products and services. With this dynamic industry comes complex risk, requiring specialized insurance protection. Hanover Life Sciences Advantage was especially designed to deliver insurance programs to address the many unique risks life sciences organizations face. We provide everything from standard coverages to highly specialized coverages and risk management solutions to help deliver to you the protection you need.
Dedicated expertise at every level
The Hanover team understands the complex risks life sciences organizations face and offers expertise at every level including underwriters, claims professionals and risk management experts who work seamlessly together to provide customized solutions. Beyond The Hanover’s experienced team, we partner with a select group of specialized agents who have deep life sciences industry knowledge and understand your unique needs. With our team, your agent, and the solid financial strength rating of “A” from The Hanover, you can count on us to help ensure you have the right insurance protection.
Providing end-to-end protection
We offer additional coverages to help ensure your organization has complete protection, including:
- Life sciences general liability endorsement adds over 20 coverage enhancements
- Property broadening endorsement for life sciences provides expanded protection with over 12 coverages
- Workers’ compensation
- Commercial auto
- International coverage
- Healthcare professional liability*
Risk management and claims services
In a perfect world you would never have to file a claim. But in the real world you need to be prepared with effective risk prevention programs. Hanover’s Risk Solutions professionals help you avoid claims by offering insightful ways to minimize your risk. Should a claim occur, our dedicated life sciences claims team is ready to snap into action 24/7 with the expertise and resources you need. Our claims and risk management teams work together closely to identify ways to minimize risk and prevent future loss. We’re always thinking about helping you manage risk — and Hanover’s Risk Solutions website is an excellent resource for policyholders that covers issues directly relevant to life sciences organizations, and offers discounts for services provided by third party services.
Hanover Fusion: A multi-coverage solution for life sciences
Hanover Fusion offers an innovative multi-coverage solution to protect a wide array of life sciences customers focused on medical devices, digital health technologies, pharmaceuticals, and contract research. Hanover Fusion is a specialized liability product that enables organizations to combine and customize a solution. It was designed with the understanding that no life sciences organization is exactly alike, with the flexible coverage and limit options you need to help ensure your organization has the right coverage, including:
- Products completed operations coverage including human clinical trials
- Errors and omissions coverage including breach of warranties or representation
- Information security and privacy and personal injury coverage including unauthorized access, use of or theft of private personal data by a third party or the unintended transmission of malicious code by your organization to a third party
- Media and content coverage includes infringement or dilution of title, slogan, trademark, service mark or registered copyright
- Supplementary payments for claims investigation and defense costs that do not reduce your limit of insurance
- Worldwide coverage territory
- Extended claims reporting period of 90 days with option to extend further
- Optional data breach expense coverage for direct costs resulting from a data breach including investigation, notification, credit monitoring, public relations expenses and more
- Optional products recall expense coverage provides reimbursement for product recall expenses** including communication, transportation, inspection and testing, and more
- Optional human clinical trial expense coverage includes medical expense for bodily injury arising out of a person’s voluntary participation in a human clinical trial
We’re ready to help
Want to know more? We’re ready to answer your questions and discuss how we can help your life sciences organization with comprehensive and specialized coverage. For more information, contact us today.
* Healthcare Professional Liability available for select classes.
** Product recall expenses must be a result of a Class I recall
14-10036 (1/17) LC 2017-043