From product safety to breakthrough health discoveries, organizations working in the dynamic life sciences industry face a wide range of challenges and opportunities. From litigation and the actions of regulators posing a financial and reputational risk, to successful challenges to patents and other forms of intellectual property potentially undermining a firm’s core product and source of revenue. At the same time, insurers are increasingly restricting product liability insurance cover for life sciences companies.
The life sciences industry, worth over USD 1 trillion, operates in a global environment, with a high degree of mergers, acquisitions, divestitures, spin-offs, and strategic alliances while proving recession resistant.
Our understanding of the special risks facing life sciences companies has helped make us one of the leading brokers servicing the sector, giving you access to a creative and expanding range of solutions in pharmaceutical, drug wholesale, nutraceutical, biotechnology, medical device and supply, and contract research. In partnership with our wider network of Marsh & McLennan Companies, we provide solutions and services ranging from business risk consulting and supply chain management to clinical trials risk, business continuity, business resiliency, and crisis management.
Our dedicated practice offers expertise across a wide range of industry factors. It monitors clinical trials regulatory developments in over 150 countries and maintains a proprietary clinical trials database which is available to clients, brings thought leadership to understanding life sciences industry risks and designing solutions to best position our clients to navigate them, has the broadest life sciences consulting services in the market and executes regional roundtables, complimentary educational webinars, and networking opportunities. All of these are designed to provide you with the benefit of our collaboration and knowledge transfer so that you receive the very best Marsh has to offer.
Marsh has created centers of excellence to aggregate our knowledge and expertise of the industry, enabling us to keep you abreast of current trends impacting the industry and provide insights in areas of program design, placement, service, and administration.
By helping reduce your total cost of risk with tailored solutions – insurance brokerage, advisory, and risk management services – Marsh can help you minimize the volatility and severity of risk, protect assets, and maintain profitability.
Biotechnology
For clients across the global biotech industry – from large global enterprises to small specialty and “incubator” firms – the Marsh Life Sciences Practice offers solutions that include:
- Products liability advisory, global placement services, and claims consulting, including specialized complex claims and mass tort services.
- Clinical trials placement and operational services, including a non-US clinical trials center of excellence.
- Directors and officers (D&O) and financial and professional advisory, claims and placement services, including advisory and placement services for initial public offerings.
- Marine cargo and stock throughput solutions tailored to your quality-control guidelines.
- Business interruption, supply chain, and operational/regulatory risk solutions.
- Other specialized life sciences services, including trade credit and political risk, surety, forensic accounting claims services, and other tailored industry solutions.
Medical Device & Technology
For medical device manufacturers, diagnostics companies, and consumer health aid product marketers, the Marsh Life Sciences Practice offers solutions that include:
- Products liability advisory, global placement services, and claims consulting, including specialized complex claims and mass tort services.
- Clinical trials placement and operational services, including a non-US clinical trials center of excellence.
- Directors and officers (D&O) and financial and professional advisory, claims and placement services, including advisory and placement services for initial public offerings.
- Marine cargo and stock throughput solutions tailored to your quality-control guidelines.
- Business interruption, supply chain, and operational/regulatory risk solutions.
- Other specialized life sciences services, including trade credit and political risk, surety, forensic accounting claims services, and other tailored industry solutions.
Pharmaceuticals
For clients across the global pharmaceutical industry – biopharma, specialty drugs, generics, animal health, and nutraceuticals – the Marsh Life Sciences Practice offers solutions that include:
- Products liability advisory, global placement services, and claims consulting, including specialized complex claims and mass tort services.
- Clinical trials placement and operational services, including a non-US clinical trials center of excellence.
- Directors and officers (D&O) and financial and professional advisory, claims and placement services, including advisory and placement services for initial public offerings.
- Marine cargo and stock throughput solutions tailored to your quality-control guidelines.
- Business interruption, supply chain, and operational/regulatory risk solutions.
- Other specialized life sciences services, including trade credit and political risk, surety, forensic accounting claims services, and other tailored industry solutions.