Empowering Innovation in Life Sciences

Axis Insurance is at the forefront of supporting Canada’s vibrant life sciences sector. Our dedicated team brings over 60 years of combined expertise in providing specialized insurance solutions tailored to the unique challenges and regulatory environments faced by life sciences companies. With a deep understanding of the complexities of this industry, we are committed to protecting the pioneering work of Canadian researchers and entrepreneurs, ensuring they can focus on their critical roles in advancing health and science.

In an industry where innovation is rapid and the stakes are high, Axis stands as a trusted partner, equipped with the knowledge and tools to mitigate the diverse risks inherent in the life sciences field. Our tailored insurance products are designed to address the specific needs of each segment within the sector, from bioengineers working on next-generation solutions to CROs driving clinical advancements. With Axis Insurance, life sciences companies in Canada can navigate the challenging landscape with confidence, backed by a team that not only understands your needs but is also passionate about supporting your growth and success in improving lives.

Leading our Life Sciences Practice

We pride ourselves on maintaining direct and open communication with our clients, staying engaged with their business and ensuring that they are involved and informed throughout every step of the insurance and risk review process.

Kevin McLean
Senior Vice President, Life Sciences

Medical Devices

Medical Devices play a pivotal role in modern healthcare, driving innovation and improving patient outcomes. Our team understands the unique risks and challenges faced by medical device manufacturers, distributors, and innovators. Our tailored insurance solutions provide comprehensive coverage for product liability, regulatory compliance, and intellectual property protection, ensuring that your innovations are safeguarded at every stage of development and distribution.

Our team of experts brings decades of experience in the life sciences sector, understanding the intricacies of risk management for medical device technologies. From startups to established industry leaders, we offer customized insurance strategies that address the specific needs of your business, allowing you to focus on advancing medical technology with confidence and peace of mind.

    Biotechnology

    Biotechnology is at the forefront of scientific innovation, transforming industries from healthcare to agriculture. Axis Insurance recognizes the unique challenges faced by biotech companies, from early-stage research and development to clinical trials and product commercialization. We offer specialized insurance solutions that cover a wide range of risks, including R&D missteps, regulatory hurdles, and bioethical issues, ensuring that your groundbreaking work can proceed with fewer financial risks.

    Our extensive experience with biotechnology firms allows us to provide not just insurance but also guidance on managing potential exposures as you push the boundaries of what’s possible in science. Whether you’re pioneering new drug therapies, developing genetic modifications, or innovating bio-based products, Axis Insurance is equipped to support your mission, protecting your advancements and facilitating your progress with tailored risk management strategies.

      Digital Health

      Digital Health is revolutionizing the way we approach healthcare, integrating technology to enhance patient care and improve health outcomes. At Axis Insurance, we specialize in providing comprehensive coverage for digital health companies that are navigating the complex landscape of healthcare regulations, data security, and technological innovations. Our policies protect against cyber threats, data breaches, and regulatory non-compliance, ensuring that your digital solutions can thrive in a rapidly evolving industry.

      With a deep understanding of the intricacies of digital health, from telemedicine and health apps to wearable technologies and AI-driven diagnostics, our team at Axis Insurance crafts insurance solutions that address the specific challenges of this dynamic sector. We support your mission to transform healthcare by mitigating risks that could impede your progress, helping you to deliver safe, efficient, and cutting-edge health services. Specialized coverage for digital health firms includes:

      • Cyber Liability Coverage
      • Regulatory Compliance
      • Product Liability
      • Professional Liability

      Contract Research (CRO)

      Contract Research Organizations (CROs) play a critical role in the development of new pharmaceuticals and medical devices, offering essential support from preclinical research through to clinical trials and regulatory approval. At Axis Insurance, we understand the distinct risks associated with this pivotal industry sector. Our tailored insurance solutions cover professional liability, errors and omissions, and clinical trial liability, ensuring that CROs can operate with confidence, knowing their complex and critical activities are protected.

      Our expertise extends to addressing the unique needs of CROs, encompassing everything from patient safety to data integrity and regulatory compliance. With decades of experience in the life sciences sector, Axis Insurance provides not just coverage, but strategic risk management that aligns with the fast-paced and evolving nature of contract research. Whether you’re conducting early-stage research or managing extensive clinical trials, our insurance solutions are designed to support your success and mitigate risks throughout the research and development lifecycle.

        Bioengineering

        Bioengineering is a field that blends engineering principles with biological science to create solutions that advance medical care, agricultural practices, and environmental sustainability. Axis Insurance is adept at navigating the multifaceted risks associated with bioengineering, providing specialized insurance solutions that protect against professional liability, intellectual property disputes, and project-specific risks. Our coverage ensures that bioengineers can push the boundaries of innovation with confidence, safeguarding their work from unforeseen challenges.

        With deep industry knowledge and a commitment to supporting cutting-edge research and development, our team at Axis Insurance crafts policies that reflect the unique needs of bioengineers. Whether you are working on regenerative medicine, synthetic biology, or biomedical devices, our comprehensive insurance solutions are designed to protect your projects and facilitate your contributions to science and health, enabling you to focus fully on developing technologies that can transform lives.

          Essential Coverage

          Life Sciences enterprises face distinct and critical risks. Our insurance solutions are specifically designed to protect your groundbreaking work and innovations.

          Product Liability

          Product Liability Insurance is critical for life sciences companies involved in manufacturing or distributing healthcare products. This coverage protects against claims of injury or damage caused by products that fail to perform as promised.

          Life sciences companies are at particular risk due to the potential impacts of their products on human health. Whether it’s a medical device, pharmaceutical, or biotechnology product, this insurance helps cover the legal and compensation costs that can arise from litigation. Ensuring robust product liability coverage is part of maintaining the trust and safety that are paramount in the healthcare field.

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          Clinical Trials Liability

          Clinical Trials Liability Insurance is essential for any life sciences company that conducts research involving human participants. It provides protection against the risks of bodily injury or illness that could occur as a result of participating in a trial.

          The development of new drugs and medical devices often requires extensive testing in clinical trials, which can sometimes lead to unexpected adverse effects. This type of insurance helps manage the financial risk associated with these trials, covering both legal defense costs and any compensation awarded to participants for injuries.

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          Errors & Omissions

          Errors & Omissions (E&O) Insurance is vital for life sciences companies that provide medical services or advice. It shields against negligence claims and the failure to perform professional duties adequately.

          In the highly specialized field of life sciences, professional advice or services can have significant repercussions if errors occur. E&O insurance ensures that companies can defend against claims of malpractice or professional misconduct without threatening their financial stability. This coverage is particularly important for consulting services, regulatory compliance advice, and the management of clinical trials.

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          Intellectual Property (IP)

          Intellectual Property (IP) Insurance is crucial for protecting the valuable patents and proprietary technologies that drive innovation in the life sciences sector. This insurance helps cover the costs associated with defending intellectual property rights.

          Life sciences firms often invest heavily in research and development, making IP one of their most valuable assets. IP insurance not only supports litigation involving patent infringements but also helps companies enforce their IP rights and secure compensation for unauthorized use, which is essential for recouping investment and funding further innovation.

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          Cyber Liability

          Cyber Liability Insurance is increasingly important for life sciences companies as they utilize more digital and cloud-based technologies. This insurance protects against data breaches and other cyber threats that could compromise sensitive patient and research data.

          The integration of digital health records, personal health applications, and other data-intensive technologies exposes companies to cyber risks. Cyber liability insurance helps cover the cost of restoring data, notifying affected individuals, and any legal actions related to breaches, which are critical to maintaining operations and trust in the life sciences sector.

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          Property Coverage

          Property Insurance is crucial for protecting the physical assets of life sciences companies, including laboratories, specialized equipment, and vivaria. Given the specialized nature of these assets and the significant value of research animals, it’s essential to cover all aspects comprehensively. This insurance helps mitigate the financial impact of damage or loss due to events like fire, theft, or natural disasters.

          Even minor damages can lead to substantial financial losses and operational disruptions. With property insurance, life sciences companies can replace or repair critical equipment and maintain continuity in their research and production activities, ensuring that both facilities and invaluable biological assets are safeguarded.

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          Partnerships & Associations

          Insurance Brokers For Technology-Related Risks. Worldwide.

          Life Sciences BC supports entrepreneurs and start-ups, to larger multinational organizations with commercialization, training, mentoring, and connections to strategic partners.

          BC Tech is the largest member-led technology non-profit in British Columbia, and they are dedicated to turning startups into scaleups.

          Our Life Sciences Team