Medical Technology and Life Sciences Products Liability Insurance

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.

Products

Medmarc provides products liability risk management consulting services to manufacturers and distributors of medical technology and life sciences products. We use expertise from attorneys, engineers, and regulatory compliance specialists to bring a multidisciplinary approach to managing your risks. Because of Medmarc’s singular focus on life sciences companies and products, our risk management professionals specialize in the products liability risks relevant to your industry—helping you enhance your operations and create safer products. 

Understanding your risk profile is an important part of managing your risk. Ask someone from our risk management team to perform a products liability risk evaluation of your products and operations. Our team can identify factors unique to your company that create potential exposures. We will also recommend solutions to prevent or mitigate them. Our services include assistance with FDA requirements to ensure regulatory compliance and prevent a products liability loss. We also offer a variety of informational resources, including seminars, publications, and employee training programs, that explain how products liability can impact your business.  

Webinars

Medmarc offers monthly webinars designed to help you understand how products liability can impact your business, help you enhance your operations, and create safer products.

Our live presentations cover a different topic every month. Past webinars addressed FDA compliance, emerging life sciences issues, product safety, product warnings and instructions, litigation trends, best practices to improve your operations, supply chain management—and other issues relevant to manufacturers and distributors of medical technology and life sciences products.

In partnership with the Performance Review Institute, which offers supplier management tools, we have developed a special series on critical manufacturing processes. These webinars will be available throughout 2017 and beyond.

Our webinars are available to the life sciences community regardless of whether you are an insured. There is no cost to register. RAPS professionals may earn CE credits for select webinars.

To register for the next live webinar, or to access on-demand webinars, visit the News and Resources section of the Medmarc website.

Industry Partners

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. ProAssurance Group is rated A (Excellent) by A.M. Best, and ProAssurance and its operating subsidiaries are rated A (Strong) by Fitch Ratings.

Visit the Medmarc website for more information.