Comprehensive insurance cover designed for the unique challenges faced by the biomedical and life sciences industry.
From medical products and cosmetics through to vitamins and supplements, we understand the specialist needs of the UK biomedical and life sciences industry, with a range of risks facing those that develop, manufacture and distribute these products. These complex risks include new medicines, implantable medical devices of US exports and increased demand for alternative therapies with new entrants challenging established markets and demanding a progressive approach to insurance.
Markel understands these challenges and we can design an insurance solution to suit an organisation’s needs.
Dedicated organisations need a dedicated insurance solution to match
Markel UK offers a comprehensive specialist product that meets the commercial insurance needs of biomedical and life sciences companies operating in the UK and distributing worldwide. Clients also have access to additional services to help navigate everyday challenges and growth opportunities. Depending on your coverage, you can opt in for additional services you need.
Manufacturers, wholesalers, distributors, designers, service, research and development, and maintenance in the following areas:
- Hair care
- Perfumes and fragrances
- Make up
- Vitamins & minerals
- Sports nutrition
- Herbal remedies
- Cosmetics/cosmetic devices
- Homeopathic remedies
- Food supplements
- Laboratory instruments and equipment
- Medical devices
Cover for the technology sector includes:
Public liability, products liability (bodily injury and property damage), professional liability and products liability (financial loss), employers’ liability, cyber and data risks, management risks (entity defence, directors’ and officers’ liability) and employment law protection
Protection of assets
Property damage, business interruption, damage to portable property, money/personal assault, transit, cyber and data risks and fidelity
Extension to property/business interruption cover
Deviations in controlled environments, contamination, machinery breakdown, public utilities, denial of access, restrictions on premises and customers/suppliers
Key products sold on a standalone basis to this industry:
Integrated insurance and business support for technology, biomedical and life sciences companies.
Lip balm caused blisters and rashA manufacturer of a lip balm distributed a product that was manufactured incorrectly. A claim for injury was made alleging that an unsafe ingredient was included which led to pain and suffering.
Changes in temperatureA research and development company produces samples which are sensitive to increases or decreases in temperature. The samples are stored in a single freezer at their premises. The company’s cleaning contractor unplugs the freezer to power a vacuum cleaner, then leaves without plugging the freezer back in. The samples thaw and are not recoverable. The property damage cover enables recreation of the samples, including the time spent in redoing the work, the business interruption (R&D Expenditure) covers the fixed costs and expenses of the downtime whilst the samples are recreated. In a non-specialist cover, this would be excluded under a spoilage exclusion.
Insights and resources
Find out more
Access proposal forms to request a quote or view technical documents related to our products or services.
From our 24/7 business and legal helpline, to our R&D tax relief consultancy, our customers have access to our legal and tax services, providing a complete solution for their wider business needs and goals.
Our claims service
We aim to settle claims as efficiently as possible so our policyholders can get on with their lives.
Markel UK brochure
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