Life Science
Life sciences businesses are associated with the research and development of life-saving drugs and technologies. Life sciences insurance is a specialized insurance policy that covers such businesses against lawsuits and claims if things go wrong. Violet Insurance understands the need for such critical companies to stay safe and protected. Therefore, we offer comprehensive and flexible life sciences insurance policies to help businesses keep running and grow safely.
Businesses covered under life sciences
Life sciences cover businesses related to biology, aerobiology, agricultural science, plant science, animal science, bioinformatics, genomics, proteomics, synthetic biology, environmental science, public health, modelling, engineering of living systems, and many other types of scientific study.
What does it cover?
Life Sciences Insurance covers the potential financial losses of the life sciences businesses. It covers:
- Claims from participants of clinical trials
- Product liability
- Bodily harm caused by product malfunctions
- Financial loss related to errors or omissions
- Patent infringements
- Privacy breach
- Cyber and privacy insurance
Who should get it?
Businesses related to these fields of science are better off with a life science Insurance policy. The insurance policy gives them the leverage to conduct their operations confidently and to deal with the claims without bearing an extensive financial burden. Contractors, consultants and support providers related to the following businesses should also consider having this policy.
- Pharmaceutical and Biotechnology companies
- Medical device companies
- Clinical trials and non-clinical research
- Research and Development
- Dietary supplements and Nutraceuticals companies
- Life Sciences services organizations
Cost of Insurance
The cost of insurance varies with the size and type of business. High-risk businesses have costly premiums and payments and vice versa.
How to get it?
Violet Insurance offers an easy-to-register process and tailors a policy just for you, so you pay only for what you need. Our service is transparent and efficient, so you do not have to worry about additional costs, hidden fees or long-term contract bindings.
