Tower Street Insurance & Risk Management Info

Talk to a Licensed Expert

(214) 214-7475

Talk to a Licensed Expert

(214) 214-7475

Life Science

Insurance

LIFE SCIENCE INSURANCE EXPERTISE

Save up to 40% on your business insurance. We analyze your current insurance policies to get you complete coverage at the best price

Protect Your Business & Employees

At Tower Street Insurance, 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.

Our Professional Strategy

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. No matter what you’re passionate about, we’re here to protect your passion. And we’re passionate about protecting your business and your family.

Protection for Diverse Life Sciences Organizations: From biotechnology companies to medical device manufacturers and contract research organizations, our life sciences team is equipped to address the complex risks and unique industry risks associated with the life science industry.

Customized Insurance for Clinical Trials: Our clinical trials insurance policies are designed to protect life sciences companies engaged in human clinical trials, providing coverage for the unique risks involved in pre-clinical and clinical research stages.

Full Analysis - 100% Risk Free

We take the time to breakdown your current policy and identify the unique risks that are present in your business. We handle the risk management to make your insurance simplier.

About Tower Street Insurance & Risk Management

At Tower Street Insurance, we specialize in providing top-level service and coverage to our clients across multiple industries and high net worth families.

We represent the best commercial property & casualty insurance carriers in the industry, and we work with you to find the most competitive and broadest protection possible for your company. Our approach to personal risk management parallels that of our commercial client’s experience. We understand that influential and successful families often have assets and liabilities that exceed those of a business. Tower Street Insurance is here to serve as a trusted advisor to each family while we protect your home, auto, valuables, and more.

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Unique Life Science Coverage Considerations

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?
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 policy pose a financial exposure to your company due to multiple deductibles?
We have the ability to provide clear related claim language (batch clause) that will apply to future claims.
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 can provide a business income coverage form that includes continuing normal operating and payroll expenses for research and development operations, 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 worldwide.

Our Partnerships Within the Industry

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

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Policy Inclusions

Broad Range of Insurance Products: Our insurance products encompass everything from general liability to professional liability, ensuring your life sciences business is protected against potential risks such as bodily injury, property damage, and product recall.

Specialized Coverage for Medical Devices and Pharmaceuticals: We understand the critical nature of insuring medical devices and pharmaceutical products. Our customized solutions cater to the specific insurance needs of companies operating in these specialized fields.

With some of our partner carriers, such as CNA, Travelers, Hartford, 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 hospitality 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 Team

Tower Street Insurance specializes in life science insurance coverage for customers throughout the US. We also offer insurance coverage for directors & officers, workers’ compensation, cyber liability, commercial risk management service, and client advocacy.

Tower Street Insurance By The Numbers

Carriers

Collective Years of Experience

Written Policies

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Retention Rate

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