Medical technology companies are vulnerable to business risks. Issues may arise from competitors, regulatory requirements and challenges inherent to innovation and the financial mechanisms driving R&D efforts. Appropriate comprehensive insurance coverages can help prevent an unplanned event from becoming a severe financial loss. OneBeacon offers superior protection and peace of mind for companies of all sizes, domestically and internationally.

Medical technology coverages include two general categories:

  • Defense or payment of liability for the company’s products, operations or services; and
  • Direct loss of assets that would otherwise require diversion of capital for replacement of those assets.
Products and Completed Operations Liability
  • Products being tested in human clinical trials through our custom Life of the Clinical Trial coverages
  • Warranties or representations
  • Unlimited ­duration supplemental extended reporting period available
  • Who is insured includes:
    • Product manufacturers
    • Human clinical trial contractors
    • Scientific advisory boards
  • Vendors for designated activities in connection with your products including medical sales consultants coverage.
  • Clear related claims language to ensure continuity of coverage.

Professional liability coverage can be included for certain operations, for professional exposures that could trigger a claim for bodily injury or property damage. Other coverage enhancements are available to address unique exposures ranging from product withdrawal expense to clinical trial medical payment coverage to customized coverage solutions. We can also provide excess liability coverage over other carrier’s products and included errors or omissions policies.

Errors and Omissions Liability provides coverage for claims filed by customers where the damage alleged is financial only, and there is no damage to actual property. This coverage is essential for:

  • Service providers of all types
  • Contract manufacturers & research organizations involved in design, formulation, manufacturing or strategic services for others
  • Manufacturers, distributors or installers whose technicians come into contact with the data or processing networks of customers

Errors and Omissions Liability protects against claims that the insured’s product or services caused the customer additional expense, loss of opportunity, loss of profit, loss of customers, or even loss of proprietary information leading to financial harm.

Premises General Liability is an often overlooked aspect of protection. With our @vantage for General Liability MedTech endorsement, we provide a wide range of frequently requested coverages. In addition, our primary premises general liability form does not exclude coverage for clinical trials, addressing what can be a perceived as a major coverage gap.

Property Protection

The OneBeacon @vantage for Medical Technology program provides replacement coverage for company assets, with a $500,000 per occurrence bucket limit of general coverages and a host of specialized coverages, including:

  • Research and development property
  • Spoilage, contamination, and change in temperature
  • Worldwide contingent business income
  • Research animals
  • Business income, with option to include:
    • Research and development
    • Research animals
    • Grants and milestones
    • Market delay
  • Condemnation of undamaged property
  • Foreign admitted coverages where needed
International Protection

Our international solution can provide policyholders with instant, reliable service worldwide. By extending our domestic policies to cover foreign risks, our insureds enjoy the same broad coverage for their international exposures as they do for their domestic losses. In addition, our working relationships with allied insurers throughout Europe, Asia/Pacific and Latin/South America enable us to tailor business loss protection to best meet our insured’s unique needs when foreign local coverage is required. Our Global Solutions program for U.S. policyholders includes:

  • Property including business income/contingent business income and crime
  • Premises, product liability and clinical trials
  • Contingent automobile coverage including hired car physical damage
  • Foreign voluntary workers compensation  and contingent employer’s liability
  • Kidnap and ransom
  • Business travel accident

The medical technology (MedTech) or life science companies we consider create medical products and technologies used in healthcare, but do not provide healthcare services directly to patients.

MedTech companies are often FDA or foreign-equivalent regulated and range from a start-up R&D/innovator company to a global manufacturer or distributor. They also may include the professional services provider that performs contract manufacturing work and services on behalf of developers and manufacturers.

We offer all-lines of business for these accounts ranging from traditional package lines – property, premises liability, auto, workers compensation and umbrella – to domestic or foreign clinical trials or product liability policies.

We look forward to partnering with you and developing the right solution for your account!



Microbiome: What is your gut telling you?

We live in a time where medical technology is evolving faster than we can imagine. For that we have exceptional and dedicated scientists and researchers to thank. In 2008, the Human Microbiome Project was established, “with the mission of generating resources that would enable the comprehensive characterization of the human microbiome and analysis of its role in human health and disease.”


Digital Medicine

Digital medicine is an emerging technology which is likely to have an immensely disruptive influence on the medical device market.1 It is central to the concept of digital health, a confluence of genomics, proteomics, metabolomics, epigenomics, and biomarkers, which are enabling us to know human biology on an individual basis.2 These new digital tools are capable of recording clinical data and generating medical information, and make it possible to develop digital medicine that is more precise, effective and widely distributed than current medical practices.3 While digital medicine first emerged a few years ago as wearable devices, the newest generation of ingestible electronics will allow practitioners to diagnose, detect and monitor physiological conditions across a wide range of diagnostics and therapeutics.


Telemedicine - Connecting the Healthcare Continuum

Telehealth and telemedicine are fast becoming a central theme for healthcare delivery in the U.S. and in many cases, around the world. In our highly technological world, the healthcare industry is harnessing the power of technology to best meet the needs of those they serve through the use of remote medical services. While telehealth and telemedicine are closely aligned terms, they describe distinct matters.