More than ever, biotechnology is a global industry. As you know, different countries mean that you will be dealing with a wide variety of rules, regulations and of course, risks. As such, it is imperative that your insurance broker has experience designing policies that address your global needs.

No matter where in the world you are doing business, our NewScience Insurance advisors can help you make sure that you have the proper policies in place.

Beyond addressing your insurance needs, we work closely with a network of professionals that specialize in working with biotechnology companies. Through our partnerships, we can help you address needs such as:

• Formation and financing of early-stage ventures
• Technology transfers
• Structuring and negotiating licenses and other technology transactions
• Research and development collaborations and technology collaborations
• Joint ventures
• Planning and developing intellectual property portfolios
• Structuring securities offerings
• Protecting and defending intellectual property rights and developing and financing new research

Britton Gallagher’s NewScience Insurance Group uses a proven process to provide all of our biotechnology industry device clients with an unmatched insurance experience.

The Britton-Gallagher process begins with an in-depth information gathering process that allows us to understand every vital aspect of your business and the risks that you face. We ask the questions that you might not expect from an insurance broker, but it’s this extra level of detail that allows us to custom-tailor a policy that meets your needs.

There is no "cookie-cutter" insurance policy that will meet all of your needs. This is why we developed our unique Coverage Matrix which compares all the major life science carriers and policies. Using the Coverage Matrix, we can determine which policy is best for your unique situation.

A key to designing an insurance policy that fits your business is a thorough review of all of your contracts. We undergo this process so that we know which exposures to address first, and perhaps more importantly, which ones may not have been identified previously.

Our contract review process includes analyzing new contracts prior to you entering into a new agreement, thus managing down your risk profile. Through use of our exposure analysis checklist, we can help you guard against risks and common contract pitfalls.

In addition to the risks that you encounter in your day-to-day business operations, it is important not to overlook potential risks that are caused by others. For example, if a manufacturer provides a faulty part for your medical device, you may be held liable. Our NewScience Insurance advisors utilize our Certificate of Insurance Compliance Program to insulate you from these risks.

Our program tracks each of your vendors/suppliers to assure their compliance with contract requirements. We take away the headache of you having to process all of the paper work and at the same time, maintain important documentation for potential claim situations.

Acquisitions are a key component of the growth of many companies in the medical device industry and carry a significant risk as well. We have developed a due diligence checklist to assist in assessing the overall risk to you of certain aspects of the acquisition. Let our NewScience Insurance experts act as a part of your due diligence team to help you determine the level of risk to which the targeted company is currently exposed.

The way a policy is structured is no doubt very important, but the real test of your insurance broker is during the claims process. You can rely on our NewScience Insurance Group to deliver a positive claims experience.

We will assist you with all aspects of a claim. The quality of our relationships with our carriers allows us to get issues resolved quicker and cleaner than other brokers. We are a part of your team and our always accessible when you need us.

Call Britton Gallagher’s NewScience Insurance Group at 1.800.607.4711 and ask for Bruce Ball, CEO. Or, use our contact request form.