Life Science

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Life Science

Life Science Insurance Expertise

At Tower Street Insurance, we specialize in providing top-level service and coverage to life science clients. We represent the life science insurance carriers in the industry, and we work with you to find the most competitive and broadest protection possible for your company. We accomplish this by doing a full gap analysis of your current insurance, risk management, and loss prevention program. We review every endorsement on your current policies, 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.

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Life Science

Examples of Customers We Have Partnered With:

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Biotechnology companies

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Clinical monitoring and site management firms

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Clinical trials

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Contract research organizations

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Laboratories

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Medical device companies

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Pharmaceutical companies

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Private label and contract manufacturers

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Research and development facilities

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Service organizations

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Unique Life Science Coverage Considerations for Your DFW Business

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?

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.

Life Science

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:

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Property – up to $500M in limits

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General Liability – $1M limit, can increase based on risk

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Product Liability – up to $10M (based on risk)

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Clinical Trial Liability – up to $10M (based on risk)

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Auto – $1M limit, can increase based on risk

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Workers’ Compensation – statutory limits

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Umbrella & Excess (excluding PCO and Prof.) – up to $50M

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Environmental – $25M

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Errors & Omissions (E&O) – $10M

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Cyber – $10M

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Parametric Natural Catastrophe – Varies based on risk

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Life Science

Contact Our Life Science Industry Leader, Wilson Vaughan

Tower Street Insurance specializes in life science insurance coverage for customers in 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 469-788-8891 or click here to make an appointment today.