• Australia ranks top five globally for biotechnology, surpassing countries such as the UK and Germany in the past three years due to an influx of government funding, coupled with tax breaks for research development.
  • Biotech and life sciences face distinct regulatory requirements and unique business cycles, where products can often take 10-15 years to reach market.
  • Compliance regulations associated with many clinical trials moving from the United States, Oceania and Western Europe to emerging regions such as Eastern Europe, Latin America and Asia have increased the chance of negative incidences occurring during trials.

Are you covered?

  • Cyber Insurance

    Protect your business from internet-based risks including hacking, data theft, ransomware, misplaced/mishandled files, illegal acts by employees, inadvertent security breaches by employees, improper discarding of computers/hardware.

  • Product Recall Insurance

    Covers expenses associated with product recall including notification, shipping, warehousing and additional personnel. Cover can be extended to include the cost of repair, replacement or refund of the product.

  • Professional Indemnity Insurance

    Protection against legal costs and expenses arising from acts, omissions or breaches out of or from actual or alleged breach of Professional duty, in connection with the Insured's Professional Business.

  • Portable Medical Equipment Insurance

    Protection of equipment including mobile surgical equipment, mobile electronic devices used by medical and first aid professions and medical devices being trialled in various clinical trial phases.

  • Clinical Trials Insurance

    Protects against bodily injury, property damage and medical expenses related to clinical trials undertaken across the globe.

  • Directors & Officers Liability Insurance

    Protection for individual directors and officers in the event of actual or alleged acts, errors or omissions when managing a company. 

Testimonials

  • The team at Honan have provided us with friendly, responsive and thoughtful service for over 10 years.  Whether it’s general or specialist cover, they really understand our insurance needs.

Daniel Reid

Industry Lead - Biotech & Life Science

Suggested Searches

  • Melbourne Office
  • Financial Service
  • Quote
  • Insurance Services
  • Trade Credit Insurance
  • Strata
  • Claims
  • Real Estate

Contact Us