Get a quote


Join Our Distribution List Today!

Need help managing your business risks during COVID-19? – CLICK HERE FOR INFO YOU CAN USE
ALIGNED Insurance

Call Toll Free

Understanding How Pharmaceutical Company Insurance Can Help Protect You

ALIGNED - CLICK HERE to get a FREE insurance quote now - Header - June 2021
Want insurance? Click HERE to get a FREE QUOTE!

Risks and Liabilities facing Pharmaceutical Companies

Some of the other risks and challenges that threaten your pharmaceutical company include:

  • Public safety and product liability
  • Counterfeit drugs using your name
  • Product recall
  • Supply chain issues
  • Proper waste disposal
  • Perils / natural disasters including fire, water damage etc.
  • Theft
  • Equipment malfunction
Pharmaceutical Company Insurance
Looking for Pharmaceutical Company Insurance? Click HERE to get a quote now!

How Pharmaceutical Company Insurance Can Help Protect You

Pharmaceutical company insurance is a customizable plan of adjustable coverages designed to respond to the specific needs of each individual pharmaceutical company.

Below are some of the more common coverages typically included in a pharmaceutical company insurance package:

Commercial General Liability Insurance for coverage of your pharma company’s commercial operations and will also include an extension for Product Liability Insurance.

Product Recall Insurance can cover the costs of issuing a recall including testing, profits lost on wasted product, replacement costs, disposal fees and brand rehabilitation expense.

Pollution Liability Insurance is another important coverage for pharmaceutical companies and can help protect them from the overwhelming costs of litigation, fines and cleanup expense.

Trademark / Intellectual Property Insurance that can cover your pharmaceutical company’s costs to enforce its trademarks. 

Accounts Receivable Insurance can help protect your profits in case purchasers fail to pay their balances and can include coverage for losses stemming from political unrest and other issues in countries outside of Canada.

Cargo Insurance provides comprehensive, end-to-end coverage for your shipments.

Property Insurance that protects building and contents including equipment, supplies, and assets in case of perils such as fires, floods, bad weather incidents, etc. Your pharmaceutical company may also require Business Interruption coverage to help you manage your operating costs after an insured peril and Extra Expense protection to help you set up a temporary location to continue operations. 

Boiler & Machinery Insurance / Equipment Breakdown Insurance that protects your pharmaceutical company from losses attributable to equipment failure including repair or replacement costs and other ancillary costs stemming from a malfunction.

Cyber Liability & Privacy Insurance which protects your organization from the costs stemming from a breach.

Crime Insurance / Fidelity Insurance covers losses due to employee theft or fraud.

Directors & Officers (D&O) / Board Insurance protects your board members from liability based on ‘wrongful acts’ and/or alleged breaches of duty.

Commercial Auto Insurance / Commercial Vehicle Insurance for your pharmaceutical company’s fleet of vehicles.

Get ALIGNED with the Right Pharmaceutical Insurance

Our brokers are not only commercial insurance specialists, we’re advocates too. We work with Canada’s top insurance companies to get your pharmaceutical company the coverage it needs at competitive rates. Get a quote online or contact us to discuss your pharmaceutical company insurance needs.

Other Posts Related To Pharmaceutical Company Insurance

It’s time to get insurance value and choice aligned. Want Canadian business insurance that aligns with your bottom line? We can help. 365. Call us toll-free at 1-866-287-0448 or click to Get a Quote!

We’re ALIGNED across Canada. The ALIGNED Insurance National Operations Centre in Cambridge, Ontario supports our Toronto, Calgary and Vancouver offices. Our industry peers consistently recognize us as one of Canada’s best insurance teams. 100% Canadian-owned, we are super proud to be one of the fastest-growing insurance brokerages in the country.

We deliver e-news you can use. Get practical business insurance insights in your inbox every month. 19,000+ people subscribe to our free ALIGNMENT Matters e-news. Just click the JOIN OUR DISTRIBUTION LIST button – at the bottom of our homepage – to get connected.

365 | Get ALIGNED. Every day, Canadian business leaders read our insurance insights. Find us on LinkedIn, TwitterFacebookInstagram and YouTube.

Leave a Reply

Your email address will not be published. Required fields are marked *