Life Sciences and Medical Products
Our specialized team is dedicated to providing clients with unrivaled people, solutions and services to reduce their Total Cost of Risk, enabling them to better the lives of more people, more cost effectively.
Aligned with The Needs of the Life Sciences Industry
As a life sciences company, you have unique, complex risks and dynamic needs that require a thought partner and advocate to help you achieve your operational, financial and strategic objectives. Our life sciences team is relentlessly dedicated to minimizing your total cost of risk, maximizing insurance outcomes, and facilitating business opportunities.
Extensive Expertise in Technology in Healthcare
Our specialized team - powered by experienced, collaborative, hands-on insurance professionals - works with you as an extension of your risk management team to develop customized solutions and creative strategies to protect you from current, prior and future risks. We work in partnership with companies across the life sciences spectrum, including manufacturers, contract manufacturers, and distributors of:
- Contract Manufacturers / Design / Research Organizations (CMOs, CROs, SMOs etc.)
- Dental Products
- Medical Devices / Products
Key Features and Benefits for the Life Sciences Industry
- Best risk identification, quantification and stratification for highly informed decision making
- Best risk mitigation, transfer and insurance to minimize your total cost of risk
- Best insurance responsiveness, recovery and review to maximize your financial recovery, expedite your operational recovery and enhance support for your ongoing operations and preparation for strategic initiatives
Detailed Risk Analysis for the Life Sciences Industry
We invest up-front at our time and expense to provide the critical decision-making information you need. This includes the Alliant Life Sciences Stress Test:
- How will your current insurance program respond to the loss scenarios which most concern you/us? What changes can be made to improve responsiveness? How cost effective is your program?
- How is your Risk Management team structured? Who are the key stakeholders? Are objectives shared across business functions? Do you have coordinated experts at carriers, brokers, in-house, and critical third-parties to identify, quantify and mitigate risk on an ongoing basis?
- How is your Insured Loss Recovery team structured? Do you have coordinated experts at carriers, broker, in-house, and external (e.g. outside counsel) aligned to maximize your insurance recovery in the event of a loss?
Specialized Knowledge of Life Sciences
With brokers averaging 20+ years of experience, our team has worked with clients across all stages of development, including: venture backed start-ups, private equity backed companies, global operations / sales, IPOs, M&A, clinical trials, product / service launch, etc. We have strong relationships with specialized underwriters and intermediaries on a worldwide basis to ensure that you can attain your objectives.
News & Resources
Healthcare Liability Costs Increasing in California
Recently signed into law by Governor Newsom, (AB 35) modifies MICRA and will increase the average cost of many HCL claims filed after January 1, 2023, ultimately raising the cost of insurance premiums for most buyers of HCL insurance.
L.A. Times Roundtable: Healthcare, Biotech & Life Sciences
Are the effects of COVID-19 on healthcare temporary or here-to-stay? Matt Cohn, Alliant Life Sciences & Healthcare Solutions, spoke to the Los Angeles Times regarding the “return to normalcy” in the life science and healthcare sectors and trends to watch for the balance of 2022.
Specialty Podcast: Dissecting the RaDonda Vaught Case. What's Next for Health System Leaders?
The criminal conviction of former Vanderbilt University Medical Center nurse RaDonda Vaught has sent shockwaves through the healthcare industry. Todd Hagemeier and Katherine Debes, Alliant, discuss the case and key insurance terms and provisions impacting whether a policy provides coverage for an insured nurse’s criminal defense.