CFC has extended its life sciences insurance offering to mid-market companies and is now offering excess products liability, E&O and clinical trials solutions for global clinical research organisations manufacturing or selling medical devices, functional food and dietary supplements with a revenue threshold of £2.5bn.
“The life science sector is possibly one of the most dynamic and has expanded faster than most other industries in recent years, fuelled by increasing patient and consumer demand for high-quality products and treatments,” said life sciences team leader at the insurer, Sean Burke. “While it hasn’t escaped the impact of the global pandemic, it is an industry sector that could make tremendous future contributions to economies around the world as it continues to pioneer treatments for new and existing conditions.”
“Our team has over a decade’s experience of providing bespoke insurance products for the complex risks these businesses face, and so extending our appetite to now be able to deliver solutions for mid-market companies is a natural evolution of our offering.”
CFC first entered the life science market in 2009 and now services over 4,000 life science businesses in over 25 countries. It has the capacity to offer limits up to £10m.