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Life Sciences

Life sciences companies face a range of challenges and opportunities. Our team of industry specialists can help you map out risk strategies and approaches as new issues emerge.
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Life sciences companies today are faced with a range of challenges. From litigation and the actions of regulators posing a financial and reputational risk, to successful challenges to patents and other forms of intellectual property potentially undermining a firm’s core product and source of revenue. At the same time, insurers are increasingly restricting product liability insurance cover for life sciences companies.

Our understanding of the special risks facing life sciences companies has helped make us one of the leading brokers servicing the sector, giving you access to a creative and expanding range of solutions in pharmaceutical, drug wholesale, nutraceutical, biotechnology, medical device and supply, and contract research. In partnership with our wider network of Marsh & McLennan Companies, we provide solutions and services such as:

  • Business risk consulting.
  • Supply chain management.
  • Clinical trials risk.
  • Business continuity/resiliency/crisis management.

Marsh has created centres of excellence to aggregate our knowledge and expertise of the industry, enabling us to keep you abreast of current trends impacting the industry and provide insights in areas of programme design, placement, service, and administration.

By helping reduce your total cost of risk with tailored solutions – insurance brokerage, advisory, and risk management services – Marsh can help you minimise the volatility and severity of risk, protect assets, and maintain profitability.

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Life sciences firms face a great deal of risk exposure. Any time an entity is involved in researching or treating human or animal subjects, especially at critical moments as experienced with COVID-19, its general risk profile increases. In an industry guided by strict regulation, the risk of violations is most certainly at the forefront of company leaders’ minds.

Competition and intellectual property risks are also relevant to the life sciences industry. It's very expensive to research and develop pharmaceuticals and other products, and a leak of critical research or claims of fraud can be devastating to a company. Although intellectual property regulations are currently in place to protect companies, the laws are constantly evolving and you need to be aware of how this can affect your bottom line.

Risk management advisors have the opportunity to offer life sciences businesses valuable support when it comes to assessing, quantifying, and mitigating risk exposure. Particularly valuable solutions and services include strategic risk consulting, supply chain management, clinical trials risk management, and business continuity or crisis management plans. Because the work of different life sciences companies tends to be diverse and highly nuanced, it can help to have the insight of not only internal and external stakeholders, but also advisors, such as Marsh, who can add perspective from an industry-wide stance. Taking a comprehensive approach to developing tailored solutions, from insurance brokerage to advisory and risk management services, can position your company for stability and success and allow you to focus on safety and profitability.

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Joe Lin

Consumer Leader, Sales & Client / Carrier Relationship Management

  • Taiwan