Built for innovation
Helping life sciences companies adapt and thrive
At Navacord, we understand the unique challenges and risks faced by businesses in the life sciences and technology sectors. Our specialized life sciences insurance solutions are designed to provide comprehensive coverage and peace of mind, allowing you to focus on innovation and growth.
Evolving risk solutions
Coverage as dynamic as the life sciences sector
Our in-house experts specialize in the life sciences and technology industries, providing tailored solutions that address the specific risks and exposures faced by businesses in these sectors. From biotechnology startups focused on research and development to companies progressing through clinical trials, commercialization, and product launch, we have the experience and market access to support their evolving insurance needs.
Who we help
The life sciences sector spans a diverse range of organizations, from early-stage innovators to established manufacturers. Navacord supports businesses across the research, development, testing, manufacturing, and commercialization lifecycle with insurance solutions tailored to their unique risks.
Protects against research, development, product liability, and intellectual property-related exposures.
Addresses regulatory, product liability, supply chain, and manufacturing-related risks.
Helps manage product performance, recall, compliance, and liability exposures.
Supports complex contractual, professional liability, and clinical trial risks.
Provides scalable protection for emerging companies seeking funding, growth, and commercialization opportunities.
Protects specialized equipment, research activities, professional services, and operational risks.
Our life sciences insurance experience
With deep industry knowledge and access to specialized markets, Navacord helps life sciences organizations manage evolving risks and support long-term growth.
Supports organizations conducting trials with specialized liability and participant protection solutions. Often, informed consent forms and clinical trial protocols are reviewed to assess the nature and scope of the trial.
Helps address insurance requirements associated with evolving regulatory obligations and industry standards.
Provides protection against claims arising from product design, manufacturing or distribution activities.
Assists with insurance requirements, indemnification clauses and contractual risk allocation.
Supports organizations operating across jurisdictions with coordinated risk management solutions.
Coverage designed for the life sciences sector
Essential life sciences coverages
Life sciences organizations face unique risks throughout the research, testing, manufacturing and commercialization process. A comprehensive insurance program can help protect operations, safeguard innovation and support business continuity in a highly regulated environment.
- Commercial general liability
Commercial general liability
Provides protection against third-party bodily injury, property damage and legal expenses arising from business operations.
Products liability insurance
Helps protect against claims alleging injury, illness or damage resulting from products developed, manufactured or distributed.
Clinical trials liability
Provides coverage for organizations conducting clinical studies, helping address participant-related claims and legal expenses.
Errors and omissions insurance
Protects against allegations of negligence, errors or omissions related to professional services, research or consulting activities.
- Cyber insurance
Cyber insurance
Helps manage risks associated with data breaches, ransomware, privacy obligations, cyber extortion, and resulting business interruption. Cybercrime coverage should also be considered for financial losses arising from social engineering, phishing, fraudulent funds transfers, and other cyber-enabled crimes.
- Property insurance
Property insurance
Protects buildings, laboratories, equipment, inventory and other physical assets from covered losses and damage.
- Business interruption and extra expense insurance
Business interruption and extra expense insurance
Helps cover lost income, ongoing expenses, and additional costs incurred to maintain or restore operations following a covered property loss.
- Directors and officers liability insurance
Directors and officers liability insurance
Provides protection for directors and officers against claims related to governance, management decisions and fiduciary responsibilities.
- Product recall insurance
Product recall insurance
Helps address expenses associated with recalling products, crisis management efforts and reputational risk mitigation.
Learn from our life sciences insurance experts
A life sciences company’s risk profile evolves with each milestone, from securing funding and advancing clinical trials to commercialization and entering new markets. The question is not simply whether the company has insurance, but whether its risk and insurance strategy reflects where the business is heading. An effective strategy anticipates those changes, looking beyond individual policies to consider the organization, its leadership and its innovation.
FAQs for life sciences insurance
Life sciences insurance can support biotechnology and genomics companies, biopharmaceutical and pharmaceutical manufacturers, medical device manufacturers, clinical research organizations, digital health companies, laboratories, testing facilities, and other organizations operating across the sector. From startups spinning out of universities to publicly traded companies, insurance solutions can be tailored to the risks organizations face throughout research, development, testing, manufacturing, and commercialization.
Life sciences organizations operate in highly specialized and regulated environments, where risks may include product liability, clinical trial exposures, cyber incidents, contractual requirements, regulatory obligations, and supply chain disruptions. Companies may also progress through extended research, development, funding, and clinical trial stages before achieving commercialization or generating meaningful revenue. In addition, allegations of bodily injury associated with drugs, therapeutics, or medical devices may emerge over an extended period. Industry-specific insurance and risk advice can help address these evolving exposures throughout the company’s lifecycle.
A comprehensive insurance program will depend on the organization’s sector, stage of development, operations, and risk profile. Coverage may include commercial general liability, products liability, clinical trials liability, errors and omissions, cyber insurance, property insurance, business interruption, directors and officers liability, product recall, intellectual property insurance, and environmental liability.
Clinical Trials Liability Insurance can help protect organizations conducting clinical studies by addressing certain participant-related claims and associated legal expenses. Coverage needs may vary based on the trial structure, phase, jurisdiction, protocol, contracts, and regulatory requirements. For companies conducting multiple studies, blanket clinical trials coverage may be worth exploring, depending on the policy wording and the nature of the trials. Coverage may be included within a Commercial General Liability policy or arranged under a separate Clinical Trials Liability policy, depending on the insurer, geographic scope, and complexity of the studies.
Yes. Product recall insurance can help address costs related to recalling a product, managing a crisis response and mitigating potential reputational impacts. This coverage can be especially important for organizations involved in product development, manufacturing or distribution.
For many early-stage life sciences companies, intellectual property is the foundation of the business and a key part of the investment pitch. Having patents or patent-pending technology is important, but enforcing those rights or defending an infringement allegation can be costly. Intellectual Property Insurance may help offset certain legal expenses associated with these disputes, providing an additional financial backstop and greater confidence for the company, its board, and its investors.
