Life sciences
The Hanover offers expertise and solutions designed specifically for a broad range of small and mid-sized life sciences organizations. Our approach focuses on staying ahead of the curve on emerging risks and aligning the right protection for each unique organization.
Hanover Life Sciences Advantage delivers specialized insurance programs for companies in four key industry segments.
Medical devices
Manufacturers, distributors, component manufacturers, contract manufacturers and refurbishers of diagnostic, surgical, monitoring, and therapeutic medical devices
Pharmaceuticals
Manufacturers, distributors, and contract manufacturers of FDA-approved prescriptions and over-the-counter drugs that are developed to treat a specific disease or condition
Digital health
Healthcare IT companies involved with the storage, retrieval, sharing and use of healthcare information and telemedicine technologies that are used to help deliver clinical health services remotely including diagnosis, treatment, and patient monitoring
Contract research
Organizations that provide pre-clinical or clinical support to the pharmaceutical, biotechnology and medical device industries through research including contract research organizations (CRO) and research institutes
Dietary and herbal supplements
Manufacturers, distributors and contract manufacturers of dietary and herbal supplements
Not available in all states
Human clinical trials
Foreign and domestic human clinical trials for medical device manufacturers and pharmaceutical companies
Visit SmallComm Solutions for detailed appetite information on small commercial life sciences risks.
The cornerstone of our specialized offering, Hanover Fusion is an industry-leading insurance product developed to meet the needs of a wide array of life sciences organizations.
Hanover Fusion is a standalone offering, allowing you to create more value for your customers. Starting with the foundational Coverage A, you can customize protection by adding up to three additional coverage options.
Property
- Selection of base property broadening endorsements that add or enhance more than 50 coverages
- Add the life sciences property broadening endorsement below to the base property endorsement to further tailor industry-specific coverage
Life sciences property broadening endorsement 411-0960* | |
|---|---|
Coverage | Limits of insurance |
| Additional covered property | Included |
| Business income — milestones | Included |
| Business income — new product to market delay | $50,000 |
| Business income and expenses — research and development | Included |
| Contamination cleanup and removal | $150,000 |
| Contract cancellation | $100,000 |
| Extended business income | 365 days |
| Processing water | $25,000 |
| Product contamination | $150,000 |
| Research and development — extra expenses | $250,000 |
| Scientific animals | $25,000 |
| Spoilage — on premises | $250,000 |
| Spoilage — in transit | $25,000 |
* Not available in all states.
Life Sciences Property Broadening Endorsement 411-0960
General liability
- Suite of general liability broadening coverage that add or enhance over 21 coverages
- Add the life sciences general liability broadening endorsement below to the base general liability broadening endorsement to further tailor coverage
Commercial general liability enhancement endorsement – Life sciences 421-3587* | |
|---|---|
Coverage | Limits of insurance |
| Additional insured — broad form vendors | Included |
| Additional insured — employee and volunteer worker broadened bodily injury coverage | Included |
| Aggregate limit per location | Included |
| Aircraft — nonowned hired, chartered or loaned with paid crew | Included |
| Alienated premises | Included |
| Broad form named insured | Included |
| Clinical trial participants — bodily injury to employees or volunteer workers | Included |
| Damage to your product | $50,000 |
| Employees — representations, warnings or instructions with respect to products or work | Included |
| Employees — supervisory positions | Included |
| Extended property damage | Included |
| "Health care professional services" definition | n/a |
| Lessors of leased equipment — blanket additional insured | Included |
| Liability for conduct of unnamed partnerships or joint ventures | Included |
| Mobile equipment redefined | Included |
| Owners, managers or lessors of premises — blanket additional insured | Included |
| Personal injury — broad form | Included |
| Product advisors and contract or clinical research organizations — blanket additional insured | Included |
Property damage legal liability — broad form - Fire, lightning, explosion, smoke and leakage from fire protective systems damage limit | $1,000,000 |
| Unintentional failure to disclose hazards | Included |
| Unnamed subsidiaries | Included |
* Not available in all states.
Business Owner's Advantage
- The Hanover’s Business Owner’s Advantage, our BOP offering, provides a selection of base broadening endorsement to expand coverage for your life sciences clients
- Enhance coverage further with an industry-specific life sciences endorsement that can be added to a base broadening
Life sciences small commercial property broadening endorsement 821-0096* | |
|---|---|
Scheduled coverages | Limits of insurance |
| Additional covered property | Included |
| Business income — milestones | $50,000 |
| Business income — new product to market delay | $50,000 |
| Business income and expenses — research and development | $50,000 |
| Contamination cleanup and removal | $150,000 |
| Contract cancellation | $100,000 |
| Extended business income | 365 days |
| Processing water | $25,000 |
| Product contamination | $150,000 per occurrence $150,000 per policy period |
| Research and development — extra expenses | $250,000 |
| Scientific animals | $25,000 per occurrence $25,000 per policy period |
| Scientific animals — equipment breakdown coverage | $25,000 |
Spoilage — life sciences - On premises - In transit |
$50,000 $25,000 |
* Not available in all states.
Life sciences commercial general liability supplemental endorsement 822-3093* | |
|---|---|
Scheduled coverage | Limits of insurance |
| Additional definitions | n/a |
| Additional exclusions | n/a |
| Additional insured — employee and volunteer worker broadened bodily injury coverage | Included |
| Aircraft — nonowned hired, chartered or loaned with paid crew | Included |
| Broad form named insured | Included |
| Employees — representations, warnings or instructions with respect to products or work | Included |
| Employees — supervisory positions | Included |
| Extended property damage | Included |
| Liability for conduct of unnamed partnerships or joint ventures | Included |
| Mobile equipment redefined | Included |
| Product advisors and contract or clinical research organizations — blanket additional insured | Included |
| Unintentional failure to disclose hazards | Included |
* Not available in all states.
Additional coverage options
Hanover Life Sciences Advantage protects against the unique risks faced by life sciences organizations. Unlock the Hanover advantage.
Risk management services
We partner with companies to provide background checks and employment screening, equipment testing and maintenance and business continuity.
Competitive products
Hanover Fusion combines up to four key coverages under a single policy to provide your clients with the customizable solutions they need including:
- Products completed operations (including human clinical trials),
- Errors and omissions
- Information security
- Privacy and personal injury
- Media and content
Dedicated claims team
Our claims teams have years of industry expertise and experience handling the unique types of claims life sciences organizations can face. Our life sciences claims team includes experts in healthcare and products liability, and, when needed, we will access our extensive network of legal counsel, including in-house litigators and defense counsel, to ensure the best outcome for your clients' claims.
Significant experience
We have a dedicated team of life sciences underwriting, claims, and risk management experts, available to help develop customized solutions for complex accounts.
Risk Solutions partnership
Our expert Risk Solutions team is dedicated to delivering up-to-date tools, resources and services to help your life sciences clients understand and manage their risks.
Trusted partner
We offer the support and financial strength of an "A"-rated leading insurance carrier.
The Hanover offers expertise and solutions designed specifically for a broad range of small and mid-sized life sciences organizations. Our approach focuses on staying ahead of the curve on emerging risks and aligning the right protection for each unique organization.
Hanover Life Sciences Advantage delivers specialized insurance programs for companies in four key industry segments.
Medical devices
Manufacturers, distributors, component manufacturers, contract manufacturers and refurbishers of diagnostic, surgical, monitoring, and therapeutic medical devices
Pharmaceuticals
Manufacturers, distributors, and contract manufacturers of FDA-approved prescriptions and over-the-counter drugs that are developed to treat a specific disease or condition
Digital health
Healthcare IT companies involved with the storage, retrieval, sharing and use of healthcare information and telemedicine technologies that are used to help deliver clinical health services remotely including diagnosis, treatment, and patient monitoring
Contract research
Organizations that provide pre-clinical or clinical support to the pharmaceutical, biotechnology and medical device industries through research including contract research organizations (CRO) and research institutes
Dietary and herbal supplements
Manufacturers, distributors and contract manufacturers of dietary and herbal supplements
Not available in all states
Human clinical trials
Foreign and domestic human clinical trials for medical device manufacturers and pharmaceutical companies
Visit SmallComm Solutions for detailed appetite information on small commercial life sciences risks.
Industry resources
Life sciences coverage checklist
Keep track of the key coverage and policy features offered by Hanover Life Sciences Advantage.
Resources for your customers
Our Risk Solutions program includes onsite and remote assessments, on-demand learning, self-service tools and custom action plans that address the complex demands and issues facing your clients in life sciences.
See all of our Risk Solutions resources for life sciences organizations
Customer tools
Let's start a conversation today
Contact a member of our team to learn more about our coverage and services, and how we can help you tailor a solution for you and your clients.