Your sector doesn’t forgive any mistakes – which is why we don’t allow ourselves to make any

From sticking plasters through x-ray machines up to heart pacemakers. Medical technology is a broad field. The sector is continually growing, innovations are very much part of the daily agenda. But along with the complexity of a product, the risk rises too – for patients, users and even more so for the industry.

Because the products are used directly on and in people, extraordinary liability and risk scenarios emerge. Product liability costs; manufacturer’s duty to report any problems that become known to all users; regulation or recall duties; not least personal injuries can take on expand to threaten your existence.

Thus a needs-based and individual insurance concept is essential. It was our task to understand these scenarios and counter them with an appropriate insurance concept on the insurer side in dialogue with manufacturers, users and sector experts.

In the GBH MedTec Policy, we have submitted a concept that pays particular attention to the extraordinary risk situation of the sector. International orientation is a matter of course!

Benefits and highlights:

Public liability and product liability insurance
•    Worldwide cover including the USA
•    Automatic co-insurance of start-up or newly acquired companies in the USA (up to 90 days)
•    Co-insurance of advice or instructions given by your employees during surgery
•    Crisis management costs for clinical trials
•    Optional: product malfunction cover for manufacturing businesses

Product recall costs insurance
•    Also possible for implants

Financial loss liability
•    Service providers such as clinical research organisations (CROs), contract manufacturers, software solutions for medical applications

Criminal law insurance

Clinical trials
•    Domestically and abroad including the USA
•    Certificates of insurance “at the touch of a button” for many countries in the local language

D &D & O insurance
•    Comprehensive financial loss liability insurance for directors and non-executive directors, as well as for all senior employees

Material damage cover
•    Transport and storage
•    Commercial/technical business equipment; buildings
•    Business interruption including loss of profit and ongoing costs
•    Electronics

Cyber risks
•    Increasing networking means a changed risk situation