Medical Technology Solutions: One Form for First- and Third-Party Coverages

We’re excited to let you know about our new modular product designed to address life science companies’ exposure to products-completed operations, professional, information risk and communication liability risks.

Through a menu-driven approach, customers can customize their solution from our broad array of first- and third-party coverages with a common set of easy-to-read definitions, conditions and exclusions. And with many imbedded coverages, you’ll require fewer endorsements to achieve the comprehensive insurance program your clients require.

MedTech Solutions is a claims-made product. Our related-claims language also enables aggregating significant losses to a particular policy period/accident year resulting in a single retention period.

Our core third-party liability coverages include:

  • products-completed operations, errors or omissions and clinical trial medical payments
  • information risk or cyber-related exposures relating to the disclosure of PII
  • communication liability addressing copyright and trademark infringements involving access and content activities
  • privacy administrative proceedings providing funds arising from claim defense, fines, penalties and consumer redress matters

Besides our broad range of liability coverages, MedTech Solutions also provide third-party coverages to support reasonable expenses associated with navigating the impact of a cyber incident as well as the unfortunate events associated with life science companies’ products or work:

  • life science product withdrawal expense
  • life science crisis management expense
  • breach consultation to help assess a cyber event’s severity and set a response action plan
  • notifications, call-center support and credit monitoring for affected individuals
  • information restoration and hardware replacement expense
  • extortion payment and forensic expense

What’s more, we offer a 24/7 dedicated data breach hotline: 877.512.3737.

MedTech Solutions is written as a standalone policy on both an admitted and nonadmitted basis.

Learn more at: www.onebeacontech.com.

 

Author Carmen Duarte

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