Insurance Solutions for the Life Sciences Industry

We provide insurance solutions for companies across the life sciences sector, including biotechnology, pharmaceuticals, medical devices, diagnostics, research and development, laboratory services, and other emerging technologies.

Why Life Sciences Companies Require Specialized Insurance Placement

Life sciences is not a standard commercial insurance category. The liability exposures tied to clinical trials, proprietary formulations, regulated manufacturing processes, and product distribution require underwriters who understand the science behind the risk — not just the SIC code. A general liability policy built for a retail business will not respond the way a biotech or pharmaceutical company needs it to when a claim arises.

 

MJM Global works with carriers and specialty markets that underwrite life sciences risks every day. Whether you are a pre-revenue startup navigating your first clinical trial or an established manufacturer distributing medical devices across multiple countries, we structure coverage that reflects the actual risk profile of your business — not a generic approximation of it.

Core Coverages for Life Sciences and Biotech Companies

The insurance program for a life sciences company typically spans several lines of coverage, each addressing a distinct exposure. We place the following for clients across the biotech, pharmaceutical, and medical device sectors:

 

  • Product Liability and Product Recall Insurance: Covers bodily injury and property damage claims arising from your products, including the costs associated with a voluntary or mandatory recall — a critical exposure for any company with a commercial product in the market.
  • Clinical Trials Liability: Addresses claims arising from adverse events during human trials, including participant injury and protocol deviations.
  • Professional Liability / Errors and Omissions: Protects against claims that your services, consulting, or research outputs caused a client or third party financial harm.
  • Cyber Liability Insurance: Life sciences companies hold sensitive patient data, proprietary research, and regulated health information — all high-value targets. Cyber coverage addresses breach response, regulatory defense, and business interruption from network events.
  • Directors and Officers (D&O) Liability: Protects company leadership from claims related to management decisions, investor disputes, and regulatory actions — particularly relevant for venture-backed and publicly traded companies.
  • Employment Practices Liability (EPLI): Covers claims from employees related to wrongful termination, discrimination, and harassment.
  • Commercial Property and Equipment Breakdown: Covers laboratories, specialized research equipment, and manufacturing facilities against physical loss and mechanical or electrical breakdown.
  • Commercial General Liability and Umbrella: Foundational coverage for third-party bodily injury and property damage, with umbrella limits sized to the risk.
  • Workers Compensation: Required in most states and particularly important in lab and manufacturing environments where occupational exposures are elevated.
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Independent Brokerage. Specialty Market Access. No Carrier Bias.

MJM Global is independently owned, which means we have no obligation to steer your program towards any particular carrier. We access top-rated insurance providers throughout the United States and internationally, and we place life sciences coverage across all 50 states. Our clients compete against companies represented by large national brokers — and they win on coverage terms, not just price. If your current program was built by a generalist broker without specialty life sciences market access, a review is worth the conversation.

Frequently Asked Questions About Life Sciences Insurance

  • What is life sciences insurance?

    Life sciences insurance refers to a category of specialty commercial coverage designed for companies in the biotech, pharmaceutical, medical device, and related research sectors. It addresses exposures that standard business insurance policies typically exclude or underinsure, including clinical trial liability, product recall, and the cyber risks associated with regulated health data.

  • Does a biotech company need product recall insurance?

    Yes, if your company has a commercial product in the market. Product recall insurance covers the direct costs of withdrawing a product from distribution — including notification, logistics, and disposal — as well as third-party claims arising from the recalled product. For biotech and pharmaceutical companies, a recall event without dedicated coverage can generate costs that far exceed the limits of a standard general liability policy.

  • What does pharmaceutical product liability insurance cover?

    Pharmaceutical product liability insurance covers claims alleging that your product caused bodily injury or property damage — including claims related to formulation errors, contamination, inadequate warnings, and adverse reactions. It typically covers defense costs, settlements, and judgments, and can be structured to include coverage for products distributed internationally.

  • At what stage should a life sciences startup purchase insurance?

    Most life sciences startups should obtain insurance before beginning any human trials, entering into contracts with research partners or CROs, or accepting institutional investment. Many investors and contract research organizations require evidence of insurance as a condition of engagement. D&O, clinical trials liability, and cyber coverage are the most commonly required policies at the early stage.

  • Can MJM Global place life sciences insurance for companies outside New Jersey and Florida?

    Yes. MJM Global places commercial insurance across all 50 states. While our offices are located in Englewood, NJ, Oakhurst, NJ, and Miami, FL, we work with life sciences companies nationwide and have access to specialty markets that write risks in every state.