Research & Development

This is an innovative insurance product. Underwritten by Underwriters at Lloyd's, it allows companies in the R&D chain to cover their unique risk exposures within the context of their business and funding models.

Damage to R&D Property

Traditional "fire & perils" policies only cover part of the potential for damage to R&D Property. This product goes much further, providing cover:

  • At premises throughout the supply chain and whilst in transit
  • With a wide definition of "stock" including documents and electronic data
  • For damage or spoilage resulting from power outage, equipment breakdown, contamination and ideologically motivated attack
  • For full stock recreation costs, including those attached to repeating completed R&D
  • For undamaged property when condemned by a competent authority

Flexible First Loss Business Interruption Cover

We recognize the importance of reaching milestones within budget. R&D expenditures tend to ramp up in the approach to significant events such as clinical trials. With that in mind, this product provides flexible and comprehensive Business Interruption cover. Benefits include:

  • Disruption due to damage at supply chain premises, even if there is no damage to the insured's property
  • Loss or damage to stock in transit
  • A first loss sum insured that can compensate for lost revenue, unproductive R&D expenditure, committed costs and project delay costs without sub-limit
  • No weekly sub-limit

Liability to Third Parties

This product also provides broad specialist liability cove including:

  • Product and services liability covering third-party property damage, bodily injury and financial loss on a seamless basis, ensuring no gaps or overlaps
  • Clear, unambiguous cover for breach of a client contract
  • Clinical trial insurance available for single trials, or on an annual, multi-trial basis with the cover limit separate from, or aggregated with, product and services liability
  • Comprehensive general liability, including pollution and contamination, tenants' legal liability, employee benefits liability, non-owned and hired auto and medical expenses
  • Cover for suits brought anywhere in the world as standard 

A fully completed application is required for quotation.

For new submissions, please contact us toll-free at 1-888-868-8367, or email professionalliability@tottengroup.com