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Errors and Omissions Insurance for Life Sciences Companies

When companies are on the leading edge of innovation, they run a risk that something will go wrong. Life Sciences errors and omissions insurance, also known as E&O insurance and professional liability insurance, can help cover industry-specific coverages and services that span the product development lifecycle, from research and clinical trials to product production and distribution.

What's Covered

If someone sues your business for making a mistake in the professional services you’ve provided, this insurance can help protect your business from claims of:

Negligence
Errors in services given
- Negligence
- Errors in services given
- Omissions
- Misrepresentation
- Oversights and mistakes
- Failure to deliver promised services
- Accusations of professional negligence
- Third-party cyber liability (data breach lawsuits)
- Intellectual property and media liability (for certain professions)
- Violation of good faith and fair dealing
- Inaccurate advice

What's Not Covered

Be aware that an E&O policy doesn't cover every type of liability claim. This insurance won't help your business with claims of:

Illegal acts and purposeful wrongdoing, such as intentionally breaking the law or deceiving your customers or clients.
Bodily injury or property damage that your business causes.
Employee injuries or illnesses caused by their work.
Discrimination or harassment in the workplace that your employees file.

What's Not Covered

Life sciences companies with up to $30M in revenue specifically for:

Medical device, pharmaceutical,
and biotechnology research and development companies
Medical device manufacturers and distributors
Biotechnology and pharmaceutical manufacturers and distributors
Dietary supplement and nutraceutical manufacturers
Contract research organizations
Health technology and healthcare related software development companies

Note: Errors and omissions insurance doesn’t help cover claims from events that happened before your policy’s retroactive date. It also doesn’t help your business with claims filed after your policy’s extended reporting period.

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