Beazley introduces small business life sciences insurance

Beazley | December 06, 2019

Beazley introduces small business life sciences insurance
Beazley has launched a new coverage aimed at small businesses in the life sciences industry. The Beazley BioSecure policy offers customized and flexible insurance protection against a range of exposures in the pharma, biotech, and medical device sectors. A release said that the policy builds on the expertise Beazley has developed through underwriting life sciences risks and managing claims for middle to large-sized clients for over a decade. Beazley also said that by offering BioSecure to smaller, private enterprise clients, it will be underwriting risks such as clinical trials, medical device manufacturers, drug delivery systems, and surgical equipment suppliers.

Spotlight

Customer focused regulation is eroding historic profit pools for insurers, platforms and asset managers and driving down total value chain costs. As a result institutions are seeking much greater product and value chain participation. The insurance and investments landscape in 2015 is far more integrated than in 2010 and the direction of travel is clear. Traditionally separate product categories such as funds and shares, annuities and drawdown, life and accident, are integrating and competitive intensity is increasing within the value chain and across adjacent product lines. In healthcare insurers are even looking outside the insurance value chain for growth.

Spotlight

Customer focused regulation is eroding historic profit pools for insurers, platforms and asset managers and driving down total value chain costs. As a result institutions are seeking much greater product and value chain participation. The insurance and investments landscape in 2015 is far more integrated than in 2010 and the direction of travel is clear. Traditionally separate product categories such as funds and shares, annuities and drawdown, life and accident, are integrating and competitive intensity is increasing within the value chain and across adjacent product lines. In healthcare insurers are even looking outside the insurance value chain for growth.

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