Choose from any of our reports and we will be happy to send it/them to you via email at no cost.

    Life Sciences Companies Have Unique Exposures

    A LicataRisk client, a life sciences company, had a unique insurance need, and we applied the creativity to solve it.

    Umbilical cord blood and tissue has unique medical uses.  However the need for the blood and/or tissue may not arise for some time, and additionally, new applications for the material are being discovered over time.

    In the meantime the material has to be cryopreserved using freezing at very low temperatures.  The temperatures need to be, and are able to be, constantly monitored.  When the material is being transported and when it is stored, there is a need for insurance to coverage.  The big question is: what is the trigger for coverage, and when do we know we have a claim?  It is complicated because we will not know for certain there is damage until years in the future when the material is put to use.

    Working with the client’s scientists and underwriters at Lloyd’s of London, we developed an insurance product that responded and paid losses, at an agreed, fixed, amount per sample, when an event causes the temperature to rise above a certain level, from whatever cause.

    Constant awareness of new exposures, and creativity in finding solutions, is the key to effective risk management.

    See Risk Strategies for Life Science:



    May 25, 2018

    Licata Risk Licata Risk & Insurance Advisors, Inc.
    265 Franklin Street
    Suite 1702
    Boston, MA 02110
    617-451-2140   advice@licatarisk
    501 East Las Olas Boulevard
    Suite 300/200
    Fort Lauderdale, FL 33301
    LicataRisk Advisors is an independent risk management and insurance consulting firm. We are not brokers and we do not sell insurance. We are not connected to any insurance company or product in any way and do not receive commissions. This is an important difference as you will have an expert on your side who is only committed to you.

    Licata Risk is not a law firm and does not practice law. General advice and contract input by the consultants, including those who are attorneys, is to provide insight into the risk and insurance aspects. Your attorney should be the final authority on any legal matter.