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Cargo insurance solution for life science companies

We can help provide innovative solutions to help life science companies protect their goods while in-transit or held in inventory.

Protecting your goods while in-transit or held in inventory

The value and sensitivity of the products manufactured by life science companies makes the risk management of cargo a critical and strategic function.

Your supply chain is vulnerable to many risks:

  • Complex geopolitical issues could threaten the distribution of products into unstable parts of the globe.
  • Cargo theft and security threats are constant reminders that companies need to be vigilant.
  • Temperature sensitivity, spoilage or deterioration of cargo including suspected damage/fear of loss.

Complementing our industry expertize, we have robust analytic capabilities and supply chain consultancy services, meaning that our life sciences practice group is well equipped to assist you in managing this complex risk environment.

How we serve our clients

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Tailored & innovative cover

We seek to obtain the most cost effective and robust program customized to your individual and unique needs, from raw material, through manufacturing to delivery of finished product to final destination.

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Claims advocacy

We use our own team of actuaries to provide proactive claims advocacy, using industry sector expertize and knowledge to effectively negotiate with insurers and loss adjusters to achieve successful outcomes.

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Risk mapping

Using industry sector knowledge, our approach is to accurately profile your risk, ask the right questions to ensure we understand your risk exposures and assess the key factors which will drive premium.

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Analytics

To complement our risk focused approach and specialty insurance expertize, we use in house actuaries to provide analytics, loss modelling and risk retention analysis.

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Expertise to create global programs

We can assist in bringing together your global exposures into one insurance program, ensuring your policy is streamlined, fully compliant and in line with sanction requirements.

200
global cargo experts supporting clients in over 140 countries
600+
clients ranging from large multinational companies to early stage start-ups
1000+
clinical trials placed globally

Global Willis Towers Watson stats as at 25 January 2021

About our Life Science Practice

  • We provide our clients with regular in-depth trends and insights on emerging risks impacting the life sciences industry and insurance marketplace to help them implement the right solutions for their organization.
  • Our advanced loss modelling capabilities. Connected Risk Intelligence is an innovative development in risk consulting which visualizes risk in a single language and framework to empower organization to make better risk finance decisions.
  • At Willis Towers Watson, we spend the time evaluating and analyzing your risk exposures in order to help minimize the total cost of risk. As well as supporting you to achieve your organization's goals.
  • We provide direction and consultation on risk mitigation strategies and improvement opportunities to help enhance your organization's performance. We offer a range of solutions to address your people, risk and capital issues.
  • Our service team offers access to specialists who are life science experts in areas in different lines of business including: directors and officers liability, cyber, product liability, supply chain, cargo, assets and risk engineering.

It is a regulatory requirement for us to consider our local licensing requirements prior to establishing any contractual agreement with our clients.

Willis Towers Watson hopes you found the general information provided above informative and helpful. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal advisors. In the event you would like more information regarding your insurance coverage, please do not hesitate to reach out to us. In North America, Willis Towers Watson offers insurance products through licensed subsidiaries of Willis North America Inc., including Willis Towers Watson Northeast Inc. (in the United States) and Willis Canada, Inc.

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