TMK launches IntelliMed

Tokio Marine Kiln, the specialist international insurer, is introducing its first Life Sciences insurance product, IntelliMed, to address coverage gaps.

IntelliMed offers specialist and bespoke coverage for Life Sciences risks, ranging from traditional medical device and pharmaceuticals through to novel smart medtech products and telemedicine services, and new apps in development.

IntelliMed “is believed to be the first Life Sciences product” in the Lloyd’s market to provide comprehensive Cyber and Intellectual Property coverage in addition to coverage for Products Liability, Professional Indemnity, Medical Malpractice, Public Liability and Clinical Trials, under one policy.

The coverage is designed for companies in areas such as medical devices, pharmaceuticals, biotechnology, skincare, nutraceuticals, veterinary drugs, medtech, and more. The coverage is not available in the US.

“This is the first time an “all-singing, all-dancing” Intellectual Property product has been released as part of a Life Science package to the Lloyd’s Market, offering broad coverage for a full range of IP exposures. We are excited to meet client needs in a new way and provide protection for their most valuable assets.” – Aoife Woulfe, head of Intellectual Property at TMK.

“Events in recent years have demonstrated how crippling a cyber-attack, or data breach, can be to an organisation. TMK’s IntelliMed policy protects our medtech clients against cyber-related threats, from the more common to the most severe, packaged alongside the other critical coverage requirements such as products liability.” – Laila Khudairi, head of Enterprise Risk at TMK.