2023 State of the Insurance Market: Life Sciences
Every year we take a close look at the insurance market and compile detailed State of the Market reports. Inside these reports, we discuss the challenges and trends impacting businesses, individuals, and the insurance industry. We also explore emerging trends and risks while highlighting strategies and solutions that can help you mitigate risk and achieve your goals. In addition to compiling full market reports, we also go into detail on how specific industries are impacted by changing market conditions. This year, one of the areas we focused on is the insurance market for the Life Sciences industry.
The Life Sciences Insurance Market Snapshot
Due to innovation, demand, and growth in 2023, prospects for life sciences companies remain overwhelmingly positive, with insurance markets generally eager to provide capacity for the industry. However, in order to maintain growth levels, organizations need to keep a pulse on the evolving opportunities and risks that are shaping both the life sciences industry and carrier capacity.
Inside our Life Sciences industry market report, you will learn about:
- Key challenges the life sciences industry faces
- What the primary insurance and reinsurance market looks like
- How the life sciences industry can address these challenges
- Managing the overall cost of risk and insurance
- Strategies for finding a trusted advisor partner
This report can serve as a powerful resource for many types of life sciences companies, such as:
- Pharmaceutical and Biotech
- Medical Device
- Contract Research Organizations (CROs)
- Molecular and Genetic Testing
Insurance Coverage for Your Life Science Company
Underwriting scrutiny is at an all-time high and insurers are providing less favorable terms for coverage. Now’s the time to work with a team of Commercial Risk advisors with a proven track record in the transportation industry. Contact Burnham WGB today to learn more about how we can help you assess your risks and protect your assets and investments.