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Claims

Manufacturers and distributors of medical products

Markel’s insurance has been specially designed to cover the risks faced by manufacturers and distributors of medicines, medical devices, laboratory
instruments and equipment, and ophthalmic products. 

The sector faces complex risks such as new medicines, implantable medical devices of US exports. Start-up companies need Director’s and Officer’s cover at a competitive premium to help get them off the ground.

Markel understands these challenges and we can design an insurance solution to suit an organisations needs.

More than just specialist insurance cover

Alongside insurance solutions, we can also assist your clients with tax and funding services such as R&D tax relief, Grant funding and patent box through Markel Tax.

Scope of cover

Cover for the medical technology sector includes:

Legal liabilities

  • Public liability
  • Products liability (bodily injury and property damage)
  • Professional liability financial loss
  • Employers’ liability
  • Management risks (entity defence, directors’ and officers’ liability)

Protection of assets

  • Property damage
  • Business interruption
  • Specified all risks
  • Money/personal assault
  • Transit

Extensions to cover Property/ Business interruption 

  • Deviations in controlled environments
  • Contamination
  • Machinery breakdown
  • Public utilities
  • Denial of access
  • Restrictions on premises
  • Customers/suppliers
Target risks

Our risk appetite for the medical technology sector is broad and all risks are underwritten by our team of expert underwriters, some of whom have over 25 years of experience insuring technology sector risks. 

Companies that design, develop, manufacture or supply products from, or provide supporting services to the following insdustries:

  • Bedside monitors
  • Bioinformatics
  • Cosmetic technology
  • Electromedical / electrotherapeutic implants
  • Electromedical / electrotherapeutic medical devices
  • In-vitro diagnostics
  • Medical wearables
  • Software (regulated as medical devices)
  • Surgical technology
  • Telemedicine/ telehealth / virtual health
Please review our biomedical and life sciences product for other healthcare, complimentary and alternative medicines and cosmetic product solutions.

Policyholder resources

To view additional services which may be available to you, visit the policyholder resources page.

Policyholder resources

Why choose Markel’s insurance for manufacturers and distributors of medical products?

  • Financial strength
We’re a Fortune 500 company, with strong financial ratings.
  • Specialist insurance
Our expert underwriters have developed a product with the specific needs of businesses in this sector in mind
  • Supporting UK businesses in this sector
We are dedicated to providing market-leading insurance solutions to UK businesses in this sector
  • Efficient claims settlement
Our claims handling has been voted by brokers as one of the best available today

Further information

Key facts Biomedical and life sciences Proposal form Biomedical and life sciences Specimen wording Biomedical and life sciences Guide - FAQs Biomedical and life sciences Product information Biomedical and life sciences

Top rated by brokers

Markel UK is rated as the Top UK Commercial Lines Insurer in the Insurance Times five-star rating report 2019/20. Markel is the only insurer to have received a maximum five-star rating in all service factors.

Why should you choose Markel
“Comprehensive and unique insurance solutions which meet the demands and needs of specific clients, together with access to an unparalleled level of complementary support services.”
Luke Kinsey, Life Sciences Broker - Gallagher

News

How we achieved our five-star rating for claims

05/03/2020

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How we achieved our five-star rating for underwriting

05/03/2020

How we achieved our five-star rating for relationship handling and management

05/03/2020

Amanda McGarry

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