Life Sciences Business Insurance Coverage Checklist
The coverages a life sciences business business may carry — core, prevalent, and situational — why each matters, and the gap most often missed.
Pull out your current policy and check the box next to any coverage you can confirm is already in place — anything unchecked is worth a quick conversation with your advisor. Coverage checklist for drug, biologic, and medical device companies. Priorities reflect typical exposure; confirm against products and clinical activity.
Tick each coverage you can confirm you carry — anything left unticked is a good question for your next policy review.
| Have it? | Coverage | Why this business needs it | Priority |
|---|---|---|---|
| Products Liability | Covers injuries from drugs, biologics, and devices — often written claims-made; confirm the retroactive date. | Core | |
| Clinical Trials Liability | Covers injuries to trial participants — excluded from standard products liability. | Situational | |
| Product Recall | Covers recall costs, which products liability does not. | Prevalent | |
| Commercial General Liability | Covers premises and operations. | Core | |
| Directors & Officers | Covers regulatory, investor, and management claims. | Prevalent | |
| Workers' Compensation | Required in most states. | Core |
The coverage gap most often missed
The most commonly missed gap for this class is clinical trials coverage. Products liability policies usually exclude injuries to trial participants, and sponsors and many countries require dedicated trial insurance before enrollment begins. Companies should buy trial coverage per study, keep adverse-event reporting current, and update device quality systems for FDA's ISO 13485-based rule effective February 2026.
Send us the checklist and we'll review your life sciences business coverage line by line, then market it across multiple carriers that compete for your account.
Related: Life Sciences Business Insurance · Life Sciences Business Supplemental (apply) · All coverage checklists
Frequently asked questions
What insurance does a life sciences business business need?
The core coverages for a life sciences business business are Products Liability, Commercial General Liability, Workers' Compensation. This checklist also lists the prevalent and situational coverages worth considering, with a plain-English note on why each matters.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my life sciences business coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.