Medmarc is the longest serving underwriter of products liability insurance to the medical technology and life sciences industry. We cover medical and dental devices, in vitro diagnostics, biotechnology, animal healthcare technology, personal hygiene products, and pharmaceuticals. We insure both manufacturers and distributors. Our policyholders range from clinical-trial stage companies to mature businesses selling products globally.
Your choice of Medmarc means that you benefit from:
- Underwriting Expertise. You want a specialist in medical products liability to help ensure that you consider all aspects of the risk. Our singular focus and industry expertise enable us to help you structure the coverage you need and want.
- Industry-Specific Policy Forms. Our products liability coverage form is designed specifically for the medical technology and life sciences industry, instead of providing you with a templated policy “one size fits all” approach with a long list of endorsements. We tailor insurance coverage to meet your company’s unique profile, risk appetite, financial constraints, and desires.
- Superior Service. We provide the seamless service and integrated solutions that you would expect from a boutique insurance company. We can help you meet your company’s evolving needs and provide an experience that distinguishes us from our competitors.
We understand the risks unique to this industry and specialize in providing risk management solutions that are designed to respond to the industry's particular needs.
- Effective Risk Management. You can access industry-specific products liability risk management services to help you prevent and minimize the cost and hassle of a potential claim.
- Quality Claims Management. If you do experience a claim, we will vigorously defend you and your product. Our claims professionals are specialists, who exclusively manage medical technology and life sciences products liability claims.
We also provide errors and omissions coverage for manufacturers. This protects you when your negligent error or omission inflicts economic injury on your customer, including covering costs associated with the loss of use of data or a recall. Medmarc covers virtually all companies functioning in drug and device supply chains — from companies sponsoring clinical trials and providing contract manufacturing, sterilization, and packaging services to those with commercialized products and sales – in both the drug and device industries.
Medmarc was founded in 1979 by HIMA, which is now the Advanced Medical Technology Association (AdvaMed), the world’s largest medical technology association. We began as a small, Bermuda-based captive insurance program and have grown into a U.S.-based insurance group with licenses to write business in all 50 states and the District of Columbia. We have never wavered from our commitment to the industry, and we continue close relationships with AdvaMed and the Independent Medical Distributors Association (IMDA).
Medmarc is rated A (Excellent) by A.M. Best. Additionally, we have the backing of our parent company, ProAssurance Corporation, which is recognized as one of the top performing insurance companies in America by virtue of its inclusion in the Ward's 50. ProAssurance Group is rated "A+" (Superior) by A.M. Best, and ProAssurance and its operating subsidiaries are rated "A" (Strong) by Fitch Ratings.
Visit the Medmarc website for more information