Some of the most life-changing healthcare breakthroughs and modern medical miracles happen in laboratories. These well-equipped testing and research and development centres work to produce new drug therapies, medical equipment, and treatments or procedures to keep Canadians healthy. As well, to achieve cures or a better quality of life for those battling a critical illness.
Pharmaceutical companies and laboratories are no strangers to the risk of healthcare and life sciences research. Chief among these are clinical trials, wherein qualified individuals are administered certain drugs or treatments before these are prescribed to the general public. Running successful trials requires protection from interruptions to your life-saving innovation.
If you’re just beginning your start-up, a basic Commercial General Liability policy will most likely work for you. This meets the needs of your landlord and also covers you while attending trade shows. But once your ideas start gaining traction and you’re in trials or signing up clients, it’s time for more specialized coverage.
Life Sciences Insurance equips pharmaceutical and research and development companies with the necessary liability protection. It covers risks associated with clinical trials, such as pollution and negligence, as well as the manufacturing of unsafe products. Life Sciences Insurance equips you with financial cover to avoid disruptions to your life-saving work while securing the value of human life you hold in your hands.
This comprehensive liability protection plan covers the cost of legal fees and court-ordered awards or settlements. But more than that, this coverage establishes long-term risk management consulting to identify and prevent potential errors, side effects, production backlogs, and other disruptions. With both financial cover and risk management resources, Life Sciences Insurance helps ensure ongoing research and innovation.
At Archway Insurance, we are committed to protecting the health and safety of Canadians in Nova Scotia and New Brunswick. That’s why we support local-led and global innovations designed to improve the quality of life and treat critical illnesses or chronic conditions. For this, we equip pharmaceutical companies and researchers with a comprehensive Life Sciences Insurance plan.
Our goal is to help companies reduce risks in manufacturing and clinical trials, and prevent disruptions to life-saving work. Trust our brokers to provide you with leading coverage options from major Canadian providers, and tailor these to reduce exposure for specific risks.
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