Life Sciences

Life science facilities insurance is imperative to safeguard the operations, assets, and innovations of companies in the rapidly evolving life sciences industry. These facilities play a pivotal role in advancing scientific research, developing life-saving therapies, and bringing breakthrough medical technologies to market. However, they also face unique and multifaceted risks stemming from the complexity of their work, regulatory requirements, and potential liabilities. In this dynamic landscape, life science facilities insurance serves as a critical safeguard, offering financial protection, regulatory compliance, and risk management solutions to mitigate the diverse challenges and uncertainties inherent in the industry.

Life science facilities insurance is essential to address the wide array of risks faced by companies in the life sciences sector, including property damage, research interruptions, product liability, clinical trial liabilities, intellectual property disputes, cyber threats, and regulatory compliance. By providing comprehensive coverage tailored to the specific needs of life science facilities, insurance policies help protect against financial losses, legal expenses, and reputational damage that could arise from unexpected events or allegations of negligence.

Life Sciences

Furthermore, life science facilities insurance enables companies to navigate the complex regulatory landscape governing the industry, ensuring compliance with strict quality standards, safety protocols, and environmental regulations. With the support of insurance coverage, life science facilities can demonstrate their commitment to safety, quality, and ethical conduct, fostering trust and confidence among investors, stakeholders, and regulatory authorities.

In summary, life science facilities insurance is necessary to safeguard the integrity, innovation, and sustainability of companies at the forefront of scientific research and medical advancements. By providing financial security, regulatory compliance, and risk management support, insurance enables life science facilities to focus on their core mission of improving human health and enhancing the quality of life for people around the world.

Why Choose The Millward Agency?

Choosing The Millward Agency means opting for unwavering confidence in your insurance provider. Our accolades and recognitions speak volumes about our commitment to excellence. Our bespoke insurance solutions for the life science industry are designed to underwrite your success, with a proven track record of serving businesses like yours with integrity, innovation, and a keen understanding of industry-specific risks.

Nationwide Presence

We are proud to offer nationwide coverage while retaining a personal touch that resonates with local communities. Our understanding of diverse regional needs ensures that our clients receive service that feels both global and neighborly.

75+ Years of Expertise

We carry a legacy of over seven decades in the insurance industry. Our enduring commitment to excellence is rooted in a deep understanding of insurance’s evolving landscape, shaped by years of experience and client-focused service.

Integrity in Every Policy

Our philosophy is simple: if we wouldn’t buy it ourselves, we won’t sell it. This ethos ensures every policy we offer is built on a foundation of trust and reliability, reflecting our commitment to honest and transparent insurance solutions.

Class of Business

Life science businesses encompass a diverse array of companies involved in research, development, manufacturing, and commercialization of products and services aimed at improving human health and advancing medical science. These are just a few examples of life science businesses, illustrating the diversity and innovation within the industry. Each type of business plays a unique role in advancing scientific knowledge, improving patient care, and addressing global health challenges.

Here are some common types of life science businesses:

IconBiotechnology Companies

Biotechnology companies utilize biological systems, organisms, or derivatives to develop innovative therapies, diagnostics, vaccines, and agricultural products. They leverage biotechnological processes such as genetic engineering, recombinant DNA technology, and cell culture techniques to address medical needs and improve agricultural productivity.

IconPharmaceutical Companies

Pharmaceutical companies research, develop, manufacture, and market pharmaceutical drugs or medications for the prevention, diagnosis, and treatment of diseases and medical conditions. They produce a wide range of prescription and over-the-counter drugs, including small molecules, biologics, vaccines, and specialty medicines.

IconMedical Device Companies
Medical device companies design, manufacture, and distribute a variety of medical devices, instruments, equipment, and implants used in diagnosis, treatment, monitoring, and support of patients’ health and well-being. Medical devices range from simple tools like thermometers and syringes to complex devices like pacemakers, imaging systems, and surgical robots.
IconContract Research Organizations (CROs)

Contract research organizations provide outsourced research and development services to pharmaceutical, biotechnology, and medical device companies. They conduct clinical trials, preclinical research, regulatory consulting, and other scientific services to support drug discovery, development, and commercialization.

IconContract Manufacturing Organizations (CMOs)

Contract manufacturing organizations offer outsourced manufacturing and production services to life science companies, including pharmaceuticals, biologics, and medical devices. CMOs specialize in manufacturing, packaging, and quality control processes to support the production of drug products or medical devices.

IconBiomedical Research Institutes

Biomedical research institutes conduct basic and translational research to advance scientific knowledge, understand disease mechanisms, and develop new treatments and therapies. These institutes may focus on specific areas of research such as cancer, infectious diseases, neuroscience, or regenerative medicine.

IconDiagnostic Laboratories

Diagnostic laboratories perform clinical testing, analysis, and interpretation of patient samples to aid in the diagnosis, monitoring, and treatment of diseases and medical conditions. They offer a wide range of diagnostic tests, including blood tests, imaging studies, genetic tests, and molecular diagnostics.


IconHealthcare IT Companies

Healthcare IT companies develop software, information systems, and digital solutions tailored to the needs of healthcare providers, life science companies, and patients. They provide electronic health records (EHR) systems, medical imaging software, telemedicine platforms, and data analytics tools to improve patient care, clinical research, and healthcare delivery.

IconGenomic and Personalized Medicine Companies

Genomic and personalized medicine companies focus on leveraging genomic information and personalized healthcare approaches to develop targeted therapies, diagnostics, and treatment strategies tailored to individual patients’ genetic profiles. They aim to improve treatment outcomes, reduce adverse effects, and optimize patient care through precision medicine.

IconAgribusiness and Agricultural Biotechnology Companies
Agribusiness and agricultural biotechnology companies develop genetically modified organisms (GMOs), crop protection products, seeds, and agricultural technologies to improve crop yields, enhance food security, and promote sustainable agriculture practices.


Common Policies Needed

Insurance coverage for life science businesses is essential to protect against a wide range of risks inherent in their operations, including research, development, manufacturing, and commercialization of products and services aimed at improving human health and advancing medical science. These insurance coverages help life science businesses mitigate risks, protect against liabilities, and ensure the continuity of their operations in the face of unforeseen events. It’s essential for life science businesses to work with experienced insurance professionals to assess their specific risks and tailor insurance programs to their unique needs and exposures.

Here are some common insurance coverages needed for life science businesses:

Product Liability Insurance

Provides coverage for claims arising from injuries or damages caused by products manufactured, distributed, or sold by the life science business. Product liability insurance is essential to protect against lawsuits alleging defects, contamination, or inadequate warnings associated with pharmaceuticals, medical devices, biologics, or other products.

Clinical Trial Liability Insurance

Covers liability risks associated with conducting clinical trials, including bodily injury, property damage, or adverse events experienced by trial participants. Clinical trial liability insurance is crucial for protecting against lawsuits arising from research activities, protocol deviations, or allegations of negligence during clinical trials.

Professional Liability Insurance (Errors and Omissions Insurance)

Protects against claims of negligence, errors, or omissions in professional services provided by the life science business, such as research, consulting, regulatory compliance, or scientific advice. Professional liability insurance is essential for addressing lawsuits alleging financial losses or damages resulting from professional negligence or misconduct.

Commercial Property Insurance

Covers damage or loss to the physical assets of the life science business, including laboratories, research facilities, equipment, machinery, and inventory, due to perils such as fire, theft, vandalism, or natural disasters. Commercial property insurance helps protect against financial losses and ensures continuity of operations in the event of property damage or destruction.

Business Interruption Insurance

Provides coverage for lost income and extra expenses incurred by the life science business due to a temporary closure or interruption of operations caused by covered perils, such as fire, storm damage, or other disasters. Business interruption insurance helps mitigate the financial impact of downtime and supports the resumption of business activities.

Cyber Liability Insurance

Protects against losses resulting from data breaches, cyberattacks, or other cyber incidents that compromise sensitive information stored or transmitted by the life science business’s computer systems. Cyber liability insurance is essential for protecting intellectual property, research data, patient information, and regulatory compliance.

Directors and Officers (D&O) Insurance

Protects the life science business’s directors, officers, and board members from personal liability for decisions made in their official capacities. D&O insurance covers legal expenses and damages arising from lawsuits alleging mismanagement, breach of fiduciary duty, or other wrongful acts.

Employment Practices Liability Insurance (EPLI)

Provides coverage for claims related to employment practices such as discrimination, harassment, wrongful termination, or violation of employment laws. EPLI insurance protects against lawsuits filed by current or former employees alleging unfair treatment or unlawful practices.

Workers' Compensation Insurance

Provides coverage for medical expenses, lost wages, and disability benefits for employees who are injured or become ill while performing their job duties at the hospitality business. Workers’ compensation insurance is mandatory in most jurisdictions and helps protect both employees and employers

Intellectual Property Insurance

Covers legal expenses and damages associated with intellectual property disputes, including patents, trademarks, copyrights, and trade secrets. Intellectual property insurance helps protect against infringement claims, defense costs, and damages awarded in intellectual property lawsuits.

Environmental Liability Insurance

Covers cleanup costs and liability for pollution or environmental contamination at the life science business’s premises or as a result of its operations. Environmental liability insurance is important for addressing risks associated with hazardous materials, waste disposal, or environmental hazards.

The Millward Agency, Inc. Testimonials

Hear from our clients in the automotive industry who have steered their businesses toward stability and growth with Millward Agency’s insurance solutions. Our case studies demonstrate our commitment to providing unparalleled support and protection, proving that no challenge is too big when you have the right insurance partner.

Kurtis ThorntonKurtis Thornton
18:38 16 Jan 22
Very helpful and nice people, a great place to get your insurance needs taken care of.
Christopher LymanChristopher Lyman
14:48 26 Oct 19
Finally, I don't need to ever look for another insurance agent. The Millward Agency handles my personal and business insurance. Always helpful with my questions and quick to respond to my emergencies. The Millward Agency Rocks!
Markusz SudozMarkusz Sudoz
19:03 19 Jul 19
Every time I go to my broker, Ed Caceres @ the Millward Agency, he always finds me the best insurance rates on my real estate properties. Ed is great, always extremely responsive and understanding of the industry. In the past I would go do my own insurance shopping and spend hours on hours to get the best rate, now I do not even bother shopping around I just call Ed and he always has the best pricing. In the beginning I got a quote from Ed then shopped around, now I have learned to not even waste my time. Ed @ Millward Always saves me hundreds of dollars. 110% on customer service, 100% on pricing!!! A+++
Mobility SolutionsMobility Solutions
19:09 25 Jul 18
Everybody!!!!! is Great to work with when ever I need anything which is almost monthly.Linda
carlene klebecarlene klebe
20:01 22 Jun 18
My former insurance agent and friend recommended Ed Caceres of Millward Agency. Within hours of having given Ed a call, I had quotes and was decided to go with his carrier. He was professional and answered all my questions. I’m happy to have done business with Ed and Millward Agency.
John CourtneyJohn Courtney
16:20 11 Jun 18
Business or Personal this is who you want - Personal service from their Team is amazing, treat as though you are their only client.* Business - Review policy/coverage every year. Not limited to one or two insurance providers. Recommend changes, not necessarily to save money (although it is available) provide additional coverage. Three months later our additional coverage cost $150 on a $15000 claim. For years we were not covered! They are not limited to one or two insurance providers as our previous agent.* Personal - couple of claims were handled like we were their only client. They bundled coverage in such a way to save $2100 a year for a family of four and kids in college.***Will continue to recommend to business colleagues, friends and family***
Karen CarterKaren Carter
16:01 08 Jun 18
Our company has been working with Millward Agency for many years.They have been the best insurance company I have ever worked with.The staff is always very informative and very professional. Our insurance needs which include general, auto and worker's comp are very complex. Millward is able to handle and update all of our needs at any time of the year. I really like the fact they get back to you very quickly! They are very knowledgeable and caring we never think of going elsewhere. We will definitely be customers for years to come. Thank you Millward Agency!
Chad StottChad Stott
17:56 07 Jun 18
Wade and the Millward team have been consistently reliable, prompt, knowledgeable and a pleasure to work with. Wade and his crew have guided us through our ever growing needs and we attribute our success to the partnerships we have forged with organizations like The Millward Agency. We look forward to many more years working together.

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Ready to accelerate your business’s security and success? Contact Millward Agency today for a personalized insurance quote. Our team of experts is here to guide you through the process with ease and confidence, ensuring your business is covered, no matter what lies on the road ahead.