Skyward Specialty Insurance has introduced a specialized liability product designed specifically for the unique risks faced by life sciences companies. The new offering provides comprehensive protection for businesses involved in pharmaceuticals, medical devices, and biotechnology research.
“Life sciences firms face extraordinary liability exposures that standard policies often don’t adequately address,” explained a Skyward Specialty executive. The product covers clinical trial mishaps, product defects, and regulatory compliance issues that can derail research projects and product launches.
Key features include:
- Protection for all phases from research to commercialization
- Coverage for both domestic and international operations
- Risk management support tailored to life sciences workflows
- Legal defense cost coverage for FDA and other regulatory actions
The timing coincides with rapid growth in the global life sciences sector, valued at over $1.5 trillion. Industry analysts note increasing liability concerns as companies accelerate development timelines and face more complex supply chains.
“Traditional liability policies weren’t built for today’s life sciences innovation pace,” said a Boston-based industry consultant. “This addresses the gap between lab research and patient delivery.”
The product is initially available in major biotech hubs including Massachusetts, California, and North Carolina, with plans for expansion. Skyward Specialty developed the solution after extensive consultation with research institutions and pharmaceutical executives.
Insurance experts suggest the offering could become essential for startups and established firms alike, particularly as gene therapies and personalized medicine create new liability landscapes. The coverage includes protections for contract research organizations and trial sites often overlooked in standard policies.
For life sciences companies navigating increasingly complex regulatory environments, the specialized product aims to provide peace of mind while allowing researchers to focus on medical breakthroughs rather than risk management paperwork.
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