Life Sciences

Verist > Industries > Life Sciences

Life Sciences

Verist offers a variety of insurance solutions for the life sciences industry. These solutions are carefully curated by a dedicated team of tenured insurance professionals, widely recognized for their industry expertise. Verist employs a consultative and multi-disciplinary approach with proprietary solutions to the benefit of the industry at every point of the development cycle.

Through Verist’s solutions, firms in the life sciences industry can count on more than just comprehensive insurance coverage; Verist’s mission is to help life sciences firms accomplish their objectives through strategic insight, actionable data and unique value-added services.

Benefits

Underwriting

  • The deep industry expertise of the Verist underwriting team is deployed to craft coverage pertinent to each client’s present with an eye to their future

Claims management services

  • Specialized claim adjustment teams and functional partners provide insight and direction both before, during and after a claim
  • Additional benefits also include custom reviews of process/agreements with third parties

Risk Advisory Services

  • Verist brings a comprehensive approach towards safety, mitigation and resiliency planning through benchmarks and Verist qualified best practices

Data capabilities

  • Using digitization and data intelligence to optimize the transfer of risk from our clients

Lines of coverage (bespoke or package)

Verist will underwrite multiple lines of coverage tailored to the unique needs of the life sciences industry.

Property and casualty (including):
Products or Clinical Trial Liability
Primary general liability
Umbrella/excess liability
Commercial auto liability
Property
Workers’ Compensation

Target classes of business

Verist efficiently solves for the risk profiles of a variety of life sciences operations:

  • Contract Manufacturing Organizations (CMOs)
  • Contract Research Organizations (CROs)
  • Drugs, Pharmaceuticals, Biologics including Dietary Supplements/ Nutraceuticals
  • Wholesale Distribution
  • Digital Health
  • Medical Devices
  • Professional Service Organizations
  • Academic or Not for Profit Research Institutions
  • Analytical Laboratories

Available program structure offerings

Verist will provide innovative solutions for a variety of life sciences program types and needs.

Guaranteed cost and loss sensitive program structures including:

  • Small deductibles
  • Large deductibles
  • Self-insured retentions
  • Retrospective rating plans
  • Captive reinsurance facilities
  • Structured programs

Are you interested in a more comprehensive approach to insurance and risk?