Insurance Risk Management Solutions for Companies & Homeowners

Life Science Insurance Expertise

At Tower Street we specialize in providing top level service and coverage to Life Science clients. Representing the majority of carriers in the industry, we work with you to find the most competitive and broadest protection possible for your company. We accomplish this by doing a full analysis of your current insurance program by looking through every endorsement on your current policy, the contracts you have in place and the unique exposures presented by your operations. Your job is to grow your company, our job is shield you from the unthinkable!

3D Medical Background with Virus Cells DNA Strand

Examples of customers we have partnered with:

  • Biotechnology companies
  • Clinical monitoring and site management firms
  • Clinical trials
  • Contract research organizations
  • Laboratories
  • Medical device companies
  • Pharmaceutical companies
  • Private label and contract manufacturers
  • Research and development facilities
  • Service organizations

Unique Life Science Coverage Considerations for Your Business in DFW  

Examining Sample with Microscope

Has your current agent discussed the following issues with you? 

  • How broad is your Claims Made Trigger?
    • We have access to an admitted product liability insurance policy with an Enhanced Claims Made trigger that allows clients to report claims anytime during the Coverage Relationship. 
  • Does your claims made product liability policy include a broad notice of Circumstances Condition?
    • One of our partner carriers includes a broad Notice of Circumstances Condition – OUR form includes per coverage relationship, not required in the policy year. 
  • Does your policy pose a financial exposure to your company due to multiple deductibles?
    • We can provide a broad, clear Related Claim Language(batch clause) which applies prospectively to future claims. Some policies also give you the option of declaring a set of claims related. 
  • How would your liability policy respond to intellectual property claims, including infringement?
    • We have a partner carrier that provides media and content coverage that includes protection for claims arising from infringement or dilution of a trademark or a registered copyright.
  • How much could you be impacted if you lost your research and development income?
    • We work with a partner carrier that has a business income coverage form that includes continuing normal operating and payroll expenses for research and development operations, even when a company is not generating a profit; as well as net profit for milestone payments or other financial contributions that you would have earned if the property loss had not occurred. 
  • Do you have domestic and international clinical trials?
    • We have clinical trials coverage down to a "science". Our partner carriers have the ability to provide jurisdictional/no-fault clinical trials coverage not only in the U.S. but world wide.

Policy Inclusions

With some of our partner carriers, such as CNA, Sompo International, Chubb and Hanover, you may be eligible for the following comprehensive coverage and significant capacity across all lines of business offered to the Life Sciences market:

  • Property – up to $500M in limits
  • General Liability – $1M limit, can increase based on risk
  • Product Liability – up to $10M (based on risk)
  • Clinical Trial Liability – up to $10M (based on risk)
  • Auto – $1M limit, can increase based on risk
  • Workers’ Compensation – statutory limits
  • Umbrella & Excess (excluding PCO and Prof.) - up to $50M
  • Environmental – $25M
  • Errors & Omissions (E&O) - $10M
  • Cyber – $10M
  • Parametric Natural Catastrophe – Varies based on risk

Contact our Life Science Industry leader Wilson Vaughan

Tower Street Insurance specializes in life science insurance coverage for customers in Austin, Dallas, Austin, San Antonio, Houston, Southlake, and other cities that we serve throughout Texas. We also offer insurance coverage for directors & officers, workers’ compensation, cyber liability, commercial risk management service, and client advocacy. When you need our help, give Tower Street Insurance a call at 972-472-2040 or click here to make an appointment today. 

Client Advocacy

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100

Carriers

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150

Collective Years of Experience

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3.5k

Written Policies

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98%

Retention Role

Reviews from Our Satisfied Customers

I love Tower Street and receive the best service from them! They are reliable, caring, and always supportive. Can’t recommend them enough!

- Abby

Chris is a great insurance advisor. He has extensive knowledge of markets, coverages, and risk. I highly recommend him. I wish I had more business to send him.

- Larry

Ashleigh provides a high level of expertise, competency and personal service to all of her clients. You would be crazy not to use Ashleigh for your personal insurance needs.

- Marc

Top Carriers We Carry on Personal & Commercial Lines:

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AIG Logo
Nationwide Private Client Logo
Pure Insurance Logo
Cincinnati Logo
Berkley One Logo
Vault Logo
Safeco Logo
Travelers Logo
The Hanover Insurance Logo
CNA Logo
Texas Mutual Logo
The Hartford Logo
Progressive Logo
UTICA Logo

See the Full List of Carriers We Offer