The complete solution for Pharmaceutical industry insurance
Very few sectors are faced with such a complex range of risks as the pharmaceuticals industry insurance sector. Healthcare systems in crisis, growing regulation, strict legal environments, sophisticated supply chains, increasing distribution costs and intense competition are some of the key risk management challenges in this sector.
Allianz Global Corporate & Specialty has profound expertise in this specialist industry.
We have built a reputation for providing tailored solutions for our clients - be they pharmaceutical producers, research centers or distribution companies – ranging from specialist property and liability covers, including clinical trials liability insurance, to supply chain risk management and marine cargo solutions.
The risks this industry is facing are manifold and complex: product recalls, counterfeiting and intellectual property are major challenges, as is the general drive to increase outsourcing and enhance efficiency while saving cost and maintaining or even enhancing quality. Product safety is always the top priority – faulty drugs not only lead to reputational damage, they can cost lives.
Therefore a professional, sophisticated risk management program and tailored insurance cover is essential to this industry. Allianz Global Corporate & Specialty’s Pharmaceuticals Global Practice Group not only has the knowledge and expertise to support the pharmaceutical industry insurance companies; we also have the financial strength to provide major capacity and the worldwide resources to provide immediate help in the case of a claim.
Our global network ensures we can cover the worldwide operations of our clients. We have particular expertise in clinical trials liability insurance, offering specialist services to cover trials around the world, from single studies to multi-location research programs.
A global tailored product range for Pharmaceutical industry insurance
- Property damage cover (including physical damage from natural hazards such as flooding, windstorms or earthquakes)
- Liability (including products liability, employers and public liability, environmental liability)
- Clinical trials liability
- Marine cargo / goods in transit
- Directors & officers and other management liability
International insurance programs
- Engineering (pharmaceutical plants under construction)
- Business Interruption