S-Tech has a number of products that are suited to the needs of the biotech and life science sector. Alongside provision for established companies, we also have a start-up facility, specifically designed for the needs of new businesses, where the initial insurance requirements are likely to be modest.
We provide specialist and tailor-made insurance solutions that protect our clients against the wide range of tangible and intangible risks they face within these dynamic sectors and provide customers with full risk appraisals.
S-Tech has been looking after the insurance interests of the biotech and life science sector for more than 35 years. During that time we have developed strong working relationships with specialist underwriters and have been instrumental in the design of bespoke policy wordings for life-science risks. We also have specialists in this area and pride ourselves on the ability to provide a bespoke solution to your individual company’s needs.
Once a company becomes established the insurance needs are likely to become more complex and the Start Up contract can be modified to accommodate the inevitable changes that the business will demand. We are therefore well placed to accommodate the needs of both new and established Life Science risks.
Specialist covers for Clinical Trials and Directors and Officers Liability insurance are also available subject to a Proposal Form, Financial Statements and, in the case of clinical trials, full details of proposed protocols, Patient Consent Information and Patient Numbers.
Yes, a bespoke policy can be arranged to accommodate freezer failure and the deterioration of the contents but Insurers may well require confirmation that the freezers in question are fitted with an alarm particularly if the contents are of very high value.
Yes bespoke cover can be arranged for Clinical Trials both in the UK and elsewhere around the world. Insurers would normally require details of the proposed protocol, the Patient Consent Form, the location of the Trial and the number of subjects taking part in the Trial itself.
The cover can be accommodated to include full blown Product Liability cover once you are in production but equally cover can also be arranged to accommodate exposures that are stimulated by any prototypes that you might be producing.
No, Underwriters are quite happy to write multi tenure risks where Laboratories are rented to a number of tenants and can also extend to accommodate risks where Laboratory space is shared by more than one Company.
Yes, we can arrange bespoke cover for Directors and Officers Liability Insurance as required by Venture Capitalists and similar and would normally recommend a cross section of limit of cover ranging from modest limits of £500,000 to upper limits of £5,000,000 and above.