Strive Insurance Group, Inc. | Home, Auto, Business & Life Sciences Insurance
  • Home
    • Privacy Policy
  • About
    • Meet Our Team
    • Blog
  • Contact
    • Job Opportunities
    • Client Services >
      • Certificate of Insurance Request
      • Payments
  • Home
    • Life Quote
  • Auto
  • Business Insurance
    • Restaurant Insurance
    • A&E Insurance
  • Life Sciences Insurance
  • Home
    • Privacy Policy
  • About
    • Meet Our Team
    • Blog
  • Contact
    • Job Opportunities
    • Client Services >
      • Certificate of Insurance Request
      • Payments
  • Home
    • Life Quote
  • Auto
  • Business Insurance
    • Restaurant Insurance
    • A&E Insurance
  • Life Sciences Insurance

6/1/2022

0 Comments

Key Risk Issues Facing The Life Sciences Industry

 
Picture
Businesses in the life sciences industry constantly develop new ways to deliver products that solve problems. Successful medical technology, pharmaceutical, and digital health enterprises write their prescription for success on the cutting edge of progress. Companies on the cutting edge of innovation, on the other hand, run the risk of anything going wrong.

There is no one-size-fits-all "life science insurance coverage" because each life science firm offers a variety of products or services. There's a chance you'll have special or unique insurance needs. A basic commercial insurance program can be expanded to meet some of the specific demands of your company. You will have limited coverage if you merely acquire basic general liability or errors and omissions insurance, but it will most likely not be the correct coverage. That is where Strive Insurance Group can help. We know and understand your industry and can deliver the specialized insurance products you need.  

Top Risks For The Life Sciences Industry
  • Supply chain
  • Adoption of advanced technologies
  • Product liability
  • Management liability
  • Cyber risk
  • New regulations
We understand the challenges in the Life Sciences industry. There are many moving parts, and things can change like the wind. That is why we have partnered with companies that offer industry-specific coverages to meet your unique needs. It doesn't matter where you are in the process right now. Whether it's R&D, clinical trials, or maybe you've already developed that game-changing medical device or drug; we want to help you with your 

Life Sciences Insurance. 
We can provide risk and insurance solutions to help you manage these and other important risks facing your business.
 
0 Comments

5/25/2022

0 Comments

The Unique Risks In The Life Science Industry

 
Picture
Businesses in the life sciences industry are always developing new ways to deliver products that solve problems. Successful medical technology, pharmaceutical, and digital health enterprises write their own prescription for success on the cutting edge of progress. Companies on the cutting edge of innovation, on the other hand, run the risk of anything going wrong. All this creates new risks and liabilities for businesses in the life science industry.
​

Our risk team advises enterprises ranging from drug makers to contract manufacturing organizations to big publicly traded medical companies on all aspects of life sciences risk management and insurance. We create proven solutions and coverages that protect your investment. 
​
Your Risks Are Real; Our Solutions Are Proven
  • Claims management and safety programs that are comprehensive
  • Property and casualty coverages, primary and excess
  • Management liability
  • Medical malpractice liability
  • Development and research
  • Human clinical trials 
  • Product recall insurance
  • Professional liability
  • Programs for Global Fronting
  • Supply chain and transportation risk management
  • Cyber liability solutions
  • Integrated Risk Management Programs
In the life sciences industry, we know you have to innovate to stay ahead. Companies in the industry compete and strive to be the first to develop new drugs, supplements, medical devices, and technologies that promote better health. Let us put together a specialized Life Sciences Insurance solution that minimizes loss potential and protect your bottom line.

We understand the challenges in the Life Sciences industry. There are many moving parts and things can change like the wind.  That is why we have partnered with companies that offer industry specific coverages to meet your unique needs. It doesn't matter where you are at in the process right now. Whether it's R&D, clinical trials or maybe you've already developed that game changing medical device or drug, we want to help you with your Life Sciences Insurance. 

Strive Insurance Group, Inc. (formerly Gordon Lund Insurance Agency, Inc) is an independent insurance agency representing many insurance companies.  This means that we quote with many different insurance companies to obtain the best rate and coverage for your insurance.  We do this at no additional fee or service charge to you.  Our insurance agency's reputation for representing the best insurance companies, providing excellent customer service and competitive pricing to our clients has been earned and proven for over 30 years.  We take great pride in finding you the best coverage and backing it up with prompt personal service.  
0 Comments

3/22/2022

0 Comments

When Does a BioTech Company Need Insurance?

 
Picture
I get this question a lot from Life Science companies and it's an excellent question. You have so many things to worry about, from funding to FDA approval, where does insurance fit into the Life Sciences picture. Can it be put off? This particular post is pertaining to Property & Casualty Insurance, not Health Insurance. If you answer, YES, to any of the questions below, you should contact a Life Sciences Insurance professional.
​
Do you have employees or contractors acting as employees? 
Work related injuries happen no matter how safe you make the work place environment. According to the CDC, falling down is the most common office injury. This could be from wet floor or tripping over something (a work bag, cord, chair, etc.). A Workers Compensation policy will respond to these types of office injuries, and quite frankly, they could be costly.

Do you have office space? 
If you have office space, you most likely have guests entering for meetings. What happens if they get injured on the premises? You most likely will be held liable. If your landlord hasn't required you to have General Liability Insurance, it's probably only a matter of time before they ask for a Certificate of Insurance. Take the time to get it now rather than having to scramble to get it. 

Do you have product/inventory, office equipment or medical equipment? Basically, any property that your company owns. 
Even if it's minimal, why risk it? I tell people, if it's minimal, chances are the premium will be minimal as well. When it comes to property insurance, when have you ever regretted purchasing it? 

​As you can see from the above, it's really during the infant stages that you should be working with an experienced Life Sciences Insurance broker that is familiar with the industry. It's not worth the risk to forgo the coverage. You might be thinking, we are pre-revenue and don't have any money for a policy. Fortunately, a policy for a Life Sciences company in the initial stages of business certainly won't break the bank. This is where working with a broker like Strive Insurance Group has its advantages. Feel free to call or email me if you have any questions or would like a quote. 

Jason Matison
Commercial Insurance Agent
Austin, Texas
0 Comments

    Archives

    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    January 2022
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016

    Categories

    All
    Architects And Engineers
    Auto Insurance
    Bio Tech
    Boat Insurance
    Business Insurance
    Commercial Insurance
    Cyber Laibility
    Flood Insurance
    Holiday Safety
    Home Business
    Home Insurance
    Life Sciences
    Personal Insurance
    Product Liability
    Professional Liability
    RV Insurance
    Toy Insurance

    RSS Feed

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not to be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher. Privacy Policy.​

​Strive Insurance Group, Inc. | 701 N. Central Expressway Bldg 1|Richardson | Texas | 75080 | 866.538.8174
Photos used under Creative Commons from Randy Heinitz, dhublimited, Gamma Man, Nguyen Vu Hung (vuhung), roarofthefour, propertysnaps, Ada Be, Mire de rien