Pharmaceutical Insurance | Life Science & Chemical Insurance

Life Science & Chemicals

Very few companies are confronted with such a complex range of risks as those in the life sciences and chemicals industries. Globalisation, tough legal and regulatory environments, complex supply chains, demanding consumers and intense competition present significant risk management challenges.

JLT built its reputation in the life sciences sector as the leading liability broker for large pharmaceutical companies, a reputation that we maintain this day. Whilst major product liability lawsuits have been relatively common and high profile, emerging risks such as product recalls, counterfeiting and the loss of intellectual property are of growing concern to risk managers.

Furthermore, increased outsourcing and efficiency drives are testing supply chain robustness to the limit, presenting a complex risk management challenge that it is not just about protecting earnings - a company's very reputation could be damaged if life-saving products cannot be supplied.

At JLT, we understand these risks: our Life Science and Chemicals Practice comprises a team of experienced and talented brokers. Our objectives are:

to know more about the industry than any other practice

to think more deeply about its needs

to analyse critical risks more effectively

to develop new and innovative products

to provide a superior broking and support service.

This commitment to the industry is matched by expert professional services, including strategic insurance reviews delivered by JLT's industry insiders, that are arguably the most respected and effective in the marketplace. They boast qualifications in law, pharmacy, engineering, applied biology, agronomy, economics and risk management. Our clients include many of the world's largest life science organisations and major chemical companies.

By choosing JLT, you will benefit from extensive knowledge of the industry and its legislative environment, unrivalled technical expertise in policy wordings and a service tailored to all your life science and chemicals insurance needs.

Reinsurers take action to identify supply chain exposures

Towards the end of 2011 the world's major reinsurers, most notably Munich Re and Swiss Re, began to express serious concerns about their financial exposure to natural catastrophes. This follows large scale losses at unspecified supplier locations - policy extensions which have become increasingly available in the recent soft market.

International Product Law Manual

JLT was delighted to contribute to the recently published 'International Product Law Manual' by Kluwer Law International.

This chapter reviews the recent history of life science insurance and explain how we have got to where we are, identifies some of the main players, reviews the procurement process, identifies some typical policy wordings, and gives examples of how coverage can be impacted if attention to detail is not paid.

JLT Events

JLT host a range of events throughout the year. To find out more click below.

	20/03/2012	Life Sciences Bulletin - Feb 2012
	04/10/2011	JLT Specialty Limited shortlisted for National Broker of the Year 2011
	21/07/2011	JLT sees growing demand for EPIC product
	01/07/2011	Creating choice through specialist insight
	06/04/2011	Natural Catastrophes Audio Briefing