Our team has extensive experience helping clients in the medical device industry design the insurance policies that are the right fit for their business. We can provide you with the best advice because our knowledge, experience and existing client base allows us to accurately benchmark and properly evaluate your terms.

We understand that institutions or hospitals are risk averse entities that set very high limits of liability. We work closely with these entities as an advocate on your behalf to ensure that you are positioned in the proper risk category. Click here to view a case study for more information.

We also understand the various stages of the product life cycle and what levels of coverage are necessary. We can help you ensure that you always have the appropriate level of cover while never being over-insured.

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

The Britton-Gallagher NewScience Insurance process begins with an in-depth information gathering process that allows us to understand the vital aspects 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 policies that meet 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.

Contract Review

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 significant risks as well. We have developed a due diligence checklist to assist in assessing the overall risk to you for 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 work as part of your team and are 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.