Life Sciences Insurance
Life Sciences Insurance
Quality insurance solutions for companies focused on quality of life
Spanning any business that develops, manufactures, or distributes products that prevent, diagnose, treat, or cure disease in humans or animals, the specialists at Amwins understand the unique demands of the life sciences industry.
However, the everchanging regulatory, consumer trend, and litigation landscapes present significant challenges for these businesses.
That’s why it’s critical to partner with a wholesale broker with deep knowledge of exposures, insurance coverages, and carriers operating in the life science and nutraceutical industries to ensure your clients are properly protected.
Life Science Insurance Expertise
Amwins' specialists have been highly respected in the life sciences space for decades. Our credentials include partnering with key carriers to develop industry standard policy forms and building exclusive products – all to propel coverage in this space forward and add value to our clients.
Through strong relationships with top carriers, we can provide tailored insurance solutions for a broad range of companies and products, including but not limited to:
- Biologics and biosimilars (animal and human)
- Biotechnology
- Cannabis, CBD, and hemp products
- Clinical Research and clinical trial organizations
- Cosmetics
- Dietary and nutrition supplements
- Essential oils
- Medical devices (manufacturers and distributors)
- Over the counter (OTC) products
- Nutraceutical Pharmaceuticals (branded and generic)
- Vitamin supplements
- Vaccines
- Veterinary products
- Wellness products
- Weight loss products
Coverage Solutions
With tailored coverage and expert guidance, your clients can innovate fearlessly, knowing that their ventures are secure.
From dietary supplements and nutraceuticals to healthcare and wellness products, exposures faced by life sciences companies vary as widely as the products they create and health needs they serve.
Our brokers stay on top of coverage trends to build a policy that provides optimal protection, including but not limited to the following insurance products.
- Auto / Inland Marine
- Commercial Auto
- Cyber Liability
- E&O
- Environmental / Pollution Liability
- Excess/Umbrella
- General Liability
- Miscellaneous Medical & Professional
- Packages (Property, General Liability, Inland Marine, Crime, Auto)
- Premises Liability
- Product Recall
- Products Liability / Nutritional Products Liability
- Products Completed Operations
- Property
- Umbrella / Excess Liability
- Workers’ Compensation
In-house life-science programs
Cannabis Cargo | Amwins
We go the extra mile to protect your cannabis clients.
Marijuana use is legal for either medical or recreational use in 38 states and counting. Federally legal cannabis-derived products such as hemp and CBD can be transported across the country. Today, businesses with cannabis transportation operations are more exposed than ever to emerging risks and additional liability as they search for coverage on shifting legal, political, and environmental sands.
Amwins Program Underwriters proudly offers competitively priced APD/MTC coverage for cannabis, alcohol, and other goods on a single policy. Our cannabis experts have the agility to navigate the cannabis market and the expertise to protect your clients on and off the road.
Target classes
- Transporters
- Distributors
- Couriers/delivery companies
- Dispensaries offering customer deliveries
- Growers and manufacturers
- Any business transporting cannabis or hemp
Coverage – Motor Truck Cargo
- Covered property
- Cannabis goods including all types of finished products, stock in process, and living plants
- Alcohol or other beverages if carried along with hemp products
- Insured’s owned goods, non-owned goods
- Cash
- Cannabis goods including all types of finished products, stock in process, and living plants
- Customized limit options to fit client needs
- Variable limits by vehicle
- Annual aggregate options
- Variable limits by vehicle
- Monthly reporting form available for 20+ units
- Flexible protective safeguard requirements
- Refrigeration breakdown included
- Theft from unattended vehicles up to $100k
Coverage – Auto Physical Damage
- Up to $225k per unit
- Max $1m catastrophe limit
- Towing coverage up to $30k
- Deductibles starting at $1k
Monthly reporting available for 20+ units
Property & Casualty coverage
APU’s P&C cannabis capability includes low minimum premiums, simple application requirements, efficient turnarounds, and more. Learn more.
Program Details
Availability
Available in all U.S. states where cannabis or hemp is legal.
Limits
- Motor Truck Cargo: up to $1m per vehicle/$3m aggregate
- Auto Physical Damage: $350k per vehicle / $1,000,000 loss limit
Minimum premium
- Motor Truck Cargo: $1,500
- Auto Physical Damage: $1,500
Carrier
- Non-admitted, AM Best rated “A-” (Excellent)
Submissions requirements
- Amwins Cannabis Transportation Application
- Schedule of Drivers and Vehicles (Excel preferred)
- Current motor vehicle reports for all drivers
- 3 years currently valued loss runs
- Sample copy of customer contract for hauling of non-owned goods
- Recreation
- Specialty Programs
- Transportation
Expertise
With Amwins by your side, you gain access to a wealth of industry knowledge and unparalleled life sciences insurance expertise.
Complex claims advocacy
From designing a proactive claims management plan to engaging on difficult and complex claims, Amwins supports you when you need us most.
Legal counsel access
Amwins offers access to legal counsel, including advising and representation to help protect your clients' assets.
$500M
annual premium placements
55+
specialty life science market relationships
Applications
- Product Contamination Generic Application
- Life Sciences Liability Application
- Nutrarisk – H&L / CBD Application
- Nutrarisk – Health, Nutrition, and Lifestyle Application
- Nutrarisk – Wellness Application
- Marijuana and Hemp Business Application
- Cannabis Application
- Hemp Farming Application
- Commercial Lessor’s Risk Only Supplemental Application
- Cannabis Testing Lab Application
Life Sciences resources + insights
