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Property, Liability and
Errors & Omissions

What is important about Property, Liability and Errors & Omissions?

These policies for Life Science companies are especially important because each coverage grant acts as an essential puzzle piece to creating an all-inclusive insurance program.

Why Do I Need It?

Life sciences companies are as unique as the products they develop and the services they deliver. They need specialized liability protection to keep pace with the rapid changes in the legal and regulatory environment. That’s why is so important that the policy be carefully underwritten to cover all the significant liabilities.

Are There Any Key Coverages a Life Science Company Should Have Built Into It?

Yes! The following important features are essential:

  • A hybrid general liability contract offers a dual trigger — an occurrence trigger for Premises/Operations and a claims-made trigger for Products/Completed Operations. Traditional single-trigger policies are also available.
  • Broad “all-risk” property perils are included, such as water damage, inundation, abrupt and accidental mechanical breakdown and surface water.
  • Research & development property is defined as processes or cultures, prototypes, written or inscribed documents, plans, records or formulas produced and directly associated with research and development operations. This critical property receives broad all-risk protection, including disappearance and errors in system programming, among other perils.
  • Oral & written contractual liability insurance is provided for insured contracts and includes the obligation to defend an indemnitee where provided by such contract.



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