Medical technology and life science companies are among the most forward-thinking organizations today whose innovation introduces uncharted risks and exposures. Whether from competitors, regulatory requirements or the financial mechanisms driving R&D efforts, properly minimizing your exposure to risk is critical to ongoing success. Appropriate comprehensive insurance coverages can help prevent an unplanned event from becoming a severe financial loss. Through OneBeacon’s Medical Technology Solutions™ protection, you gain superior protection and peace of mind, both domestically and internationally.

Medical Technology Solutions’ menu-driven approach lets you customize your protection from our broad range of first- and third-party coverages using easy-to-read definitions, conditions and exclusions. Our many imbedded coverages means you’ll need fewer endorsements to achieve the comprehensive insurance program your business deserves.

Our core third-party liability coverages include:

  • products-completed operations, errors or omissions and clinical trial medical payments
  • information risk or cyber-related exposures relating to the disclosure of PII
  • communication liability addressing copyright and trademark infringements involving access and content activities
  • privacy administrative proceedings providing funds arising from claim defense, fines, penalties and consumer redress matters


Besides our broad range of liability coverages, MedTech Solutions also provides third-party coverages to support reasonable expenses associated with navigating the impact of a cyber incident as well as the unfortunate events associated with life science companies’ products or work:

  • life science product withdrawal expense
  • life science crisis management expense
  • breach consultation to help assess a cyber event’s severity and set a response action plan
  • notifications, call-center support and credit monitoring for affected individuals
  • information restoration and hardware replacement expense
  • extortion payment and forensic expense


Our bundled approach offers you the convenience of products-completed operations, errors or omissions, and information risk and recovery coverages on the same form. In the event of a breach, you can rely on our targeted breach recovery resources provided by expert third-party vendors. We also offer a 24/7 dedicated data breach hotline: 877.512.3737. And OneBeacon’s specialized technology experience means you’ll rely on dedicated medtech insurance specialists across all aspects of your risk management program.

International Protection

Our international solution can provide you with instant, reliable service worldwide. By extending our domestic policies to cover foreign risks, our insureds enjoy the same broad coverage for their international exposures as they do for their domestic losses. In addition, our working relationships with allied insurers throughout Europe, Asia/Pacific and Latin/South America enable us to tailor business loss protection to best meet our insured’s unique needs when foreign local coverage is required. Our Global Solutions program for U.S. policyholders includes:

  • Property including business income/contingent business income and crime
  • Premises, product liability and clinical trials
  • Contingent automobile coverage including hired car physical damage
  • Foreign voluntary workers compensation  and contingent employer’s liability
  • Kidnap and ransom
  • Business travel accident
Appetite

The medical technology (MedTech) or life science companies we consider create medical products and technologies used in healthcare, but do not provide healthcare services directly to patients.

MedTech companies are often FDA or foreign-equivalent regulated and range from a start-up R&D/innovator company to a global manufacturer or distributor. They also may include the professional services provider that performs contract manufacturing work and services on behalf of developers and manufacturers.

We offer all-lines of business for these accounts ranging from traditional package lines – property, premises liability, auto, workers compensation and umbrella – to domestic or foreign clinical trials or product liability policies.

We look forward to partnering with you and developing the right solution for your client!

 

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Microbiome: What is your gut telling you?

We live in a time where medical technology is evolving faster than we can imagine. For that we have exceptional and dedicated scientists and researchers to thank. In 2008, the Human Microbiome Project was established, “with the mission of generating resources that would enable the comprehensive characterization of the human microbiome and analysis of its role in human health and disease.”

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Digital Medicine

Digital medicine is an emerging technology which is likely to have an immensely disruptive influence on the medical device market.1 It is central to the concept of digital health, a confluence of genomics, proteomics, metabolomics, epigenomics, and biomarkers, which are enabling us to know human biology on an individual basis.2 These new digital tools are capable of recording clinical data and generating medical information, and make it possible to develop digital medicine that is more precise, effective and widely distributed than current medical practices.3 While digital medicine first emerged a few years ago as wearable devices, the newest generation of ingestible electronics will allow practitioners to diagnose, detect and monitor physiological conditions across a wide range of diagnostics and therapeutics.

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Telemedicine - Connecting the Healthcare Continuum

Telehealth and telemedicine are fast becoming a central theme for healthcare delivery in the U.S. and in many cases, around the world. In our highly technological world, the healthcare industry is harnessing the power of technology to best meet the needs of those they serve through the use of remote medical services. While telehealth and telemedicine are closely aligned terms, they describe distinct matters.