What We Offer
KennCo provides expert-designed insurance protection for Life Science organisations, covering a wide range of risks. From unsafe products and pollution to negligence in clinical trials, the potential liabilities are significant. With the increasing challenges of a litigious world, new regulations, and greater dependency on technologies, it’s crucial to have comprehensive coverage. Our broad and flexible policy is crafted to meet the current and emerging needs of the sector.
Pillars of Coverage
Coverage:
- Products liability
- Professional indemnity
- Public liability
- Clinical research services – negligent act, error, or omission
- Medical malpractice
- Clinical trials – no-fault compensation & legal liability
- Claims made coverage
How We Can Help
Life sciences risks present a myriad of exposures that require expertly crafted coverage.
KennCo offers a flexible, innovative, and client-focused approach to underwriting this class of risk. Additionally, our dedicated healthcare claims team provides responsive claims handling to meet the needs of our insured clients. We also have dedicated Wordings Specialists to tailor coverage to specific insureds’ needs.
Who We Can Help
We cater to a wide range of life sciences organizations within the middle to large-sized market.
Our clients include:
- Pharmaceuticals
- Blood and tissue banks
- Nutraceuticals/Dietary supplements
- Medical devices
- Biotechnology
- Contract research organizations
- Contract manufacturing organizations
- Site management organizations
- Academic research institutions
- Wholesale and retail distribution
- Sponsors of human clinical trials
- Lab/Diagnostic services
KennCo is here to support and protect the innovations and advancements in the life sciences industry.
Public and Product Liability Overview
We offer top-tier capacity for life science companies involved in every aspect of the industry, from research to manufacturing and distribution. Whether you’re a contract manufacturer or license holder, we provide coverage on a Primary or Excess basis, which can span single or multiple territories.
Our underwriting team includes specialist underwriters with deep technical knowledge of the unique aspects of our clients’ businesses and the industry. This expertise enables us to craft solutions that precisely meet client needs.
Standard extensions include:
- Environmental Risks
- Financial Loss
- Product Recall
- Errors and Omissions
- Extended Product Liability
Key features of our coverage:
- Fronted or 100% Risk Transfer solutions
- Flexible wording tailored to meet the specific needs of the client
- Timely issuance of policy documents and certification in accordance with agreed service standards
For more information or to request a quote, please reach out to us at [email protected].
Companies engaged in life sciences activities typically consider a range of coverages, including property, general liability, auto, and umbrella insurance.
Insurance for life sciences companies includes products and services designed to address the specific risk management needs of organizations involved in life sciences-related activities. These activities can include laboratory or animal research, pharmaceutical development and manufacturing, medical device production, and the distribution and wholesale of drugs or devices.
Life sciences insurance can benefit companies involved in developing or selling:
- Medical and botanical products
- Pharmaceutical preparations
- Biological products
- Surgical and appliance supplies
- Dental equipment and supplies
- X-ray apparatuses and tubes
- Electromedical equipment
- Ophthalmic goods
The life science industry faces unique risks and challenges. Specialised coverages are essential to protect companies against risks that could affect their ability to bring products to market. Additionally, life sciences companies often have international exposures that must be managed effectively.
Clients may be contractually liable for financial injury to third parties resulting from a defect, error, or omission in their product or service. This is covered under our professional indemnity section. Our policy offers clear coverage, with products liability covering bodily injury and property damage for both products and services. Additionally, professional indemnity addresses financial injury to the insured’s clients, stemming from both services and products.