Vouch launches business coverage for life science startups
Vouch Insurance , a commercial insurance business focused on tech companies, announced its expansion into the life science category with the introduction of new proprietary insurance solutions.
“We believe the most innovative medical advancements are happening right now in incubators around the country, and these startups need help protecting their business in a constantly evolving risk environment. For example, artificial intelligence techniques are being used for drug discovery, disease diagnosis and patient risk identification. AI use in life sciences is rapidly maturing, and groundbreaking startups are emerging with innovative tech as a result.” – George Aliaga, Vouch’s Health & Life Sciences Vertical Lead.
Life science startups face unique risks. Vouch offers a suite of exposure-driven coverages to ensure comprehensive protection from R&D through product commercialization:
- Change in Controlled Environment Coverage – For perishable property prone to spoilage
- Vivarium Coverage – For animals used in R&D, breeding or biological product harvesting
- Clinical Trials Coverage – When sponsoring or operating human clinical trials
- Medical Malpractice Coverage – When offering medical treatment or advice that may create medical malpractice exposure
- Specialized Contamination Coverage – For products susceptible to contamination by radiation, bacteria, mildew, mold, microorganisms, viruses or pathogens
- Condemnation of Undamaged Stock Insurance – For situations where product is not damaged but is deemed compromised and condemned by the FDA
In addition to the new proprietary coverages launched, Vouch also offers life science startups access to its specialty brokerage, which can procure additional policies from the broader insurance market to provide comprehensive and holistic insurance solutions.
