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Oracle RMS Insurance

Life Sciences & Biotech Insurance

Industry Insurance — Oracle RMS Insurance

Life Sciences & Biotech Insurance

Insurance for pharmaceutical companies, biotech firms, medical device manufacturers, and life sciences businesses.

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Life sciences and biotech companies face some of the most complex and high-stakes insurance exposures in any industry — from clinical trial liability and product liability for medical devices to intellectual property disputes and regulatory investigations. Oracle RMS works with life sciences companies at every stage of development to build insurance programs that address their unique risk profile.

Who needs this coverage?

Pharmaceutical companies, biotech firms, medical device manufacturers, contract research organizations (CROs), laboratory businesses, nutraceutical companies, and any business involved in the development, manufacture, or distribution of health-related products.

Key coverages

  • Product liability
  • Clinical trials liability
  • Professional liability
  • Directors & officers
  • Cyber liability
  • Commercial property (lab equipment)
  • Intellectual property liability
  • Pollution liability
  • Commercial general liability

Frequently Asked Questions

What is clinical trials liability insurance?
Clinical trials liability insurance covers claims arising from adverse events experienced by trial participants. It protects the sponsor, CRO, and investigators against claims for bodily injury or death resulting from participation in a clinical trial.
Do medical device companies need product liability insurance?
Yes. Medical device manufacturers face significant product liability exposure if a device fails or causes patient harm. Product liability coverage is essential and should be structured with limits appropriate to the risk profile of the device.
What is intellectual property liability for life sciences companies?
IP liability coverage protects against claims that your products or processes infringe on a competitor's patents, trademarks, or trade secrets. IP disputes are common in the life sciences industry and can result in significant legal costs.
Do biotech startups need D&O insurance?
Yes, especially if you have investors or a board of directors. Investors often require D&O coverage as a condition of investment. It protects your founders and directors from personal liability for management decisions, including decisions about clinical development and regulatory strategy.
What insurance do contract research organizations (CROs) need?
CROs need professional liability (E&O) for errors in research design and execution, clinical trials liability, cyber liability for research data, and commercial general liability. The specific program depends on the types of studies conducted.

Ready to review your coverage?

Speak with a licensed broker at Oracle RMS — by phone, video, or in person. We serve businesses across Canada.*

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* Commercial insurance services available across Canada, excluding Quebec.