SUM Insurance


Premiums start at just $3,500

Maximum capacity $100.00M Cdn

SUM Insurance has partnered with specialist intermediaries and underwriters in the LifeSciences space, working collaboratively with us to deliver a unique combination of innovation, expertise and commitment to this segment. SUM brings unique access to their wealth of knowledge and experience in underwriting and placing insurances for this segment, earned in over 40 years of concentration on this industry's vital needs.

Our product is aimed at Canadian Pharmaceutical, Biotechnology, Medical product, and Research and Development companies. Coverage is available on all classes for risks with worldwide exposures- including the United States. Companies in this segment are known for innovation and technological intensity- creating complex insurance placements. SUM Insurance and our partners can work with you to develop the specialized coverage your clients demand, in the process creating an inimitable value proposition and securing long term relationships with partners able to keep up to the fast pace, quickly evolving nature of the lifesciences industry.

The product combines various casualty insuring agreements in a menu format, where we work with you to tailor coverage to your clients needs efficiently and consistently (each insuring agreement provides a unique limit of insurance). The product includes options for:

General liability: for premises and operations, and the usual extensions, on an Occurrence form INCLUDING ADMITTED PAPER FOR U.S. DOMICILED LOCATIONS.

Products liability: coverage for bodily injury and property damage caused by drug, biologic or medical devices. While most underwriters in this space impose lengthy lists of excluded substances and ingredients, the breadth and flexibility of our program enables us to accommodate most exposures and buy out exclusions that most markets just can't or won't do. We write this coverage Claims-Made basis, but can sometimes provide an Occurrence offering. We can tackle US and foreign sales.

ClinicalTrials Liability, including no-fault compensation coverage. This programme can cover Trials protocols with considerable geographic breadth (including the United States). Our facility here is supplemented by our International Clinical Trials programme, which can provide coverage in over 70 countries (please see International Clinical Trials section below). Our product meets all local admitted requirements.

Errors and Omissions coverage: essential for professional service companies such as contract research organizations and contract manufacturers.

The product is supplemented with various enhancements. Available extensions include: Broad form vendor's endorsement, Non-owned auto, Employee benefits, Broad form Tenant's Legal Liability, Advertising liability, Employer's liability, Product Recall expenses (government ordered and voluntary available), and Pollution extensions (including extensions for clean up and disposal).

Our appetite includes but is not limited to:

  • Pharmaceutical manufacturers, contract manufacturers, importers, distributors, producers, growers and suppliers. We have tackled all categories of ethical pharmaceuticals (prescription, over the counter etc), as well as veterinarian products, herbaceuticals, vitamins, health foods, dietary supplements and vitamins, cosmetics, botanicals, homeopathics, alternative medicines and so on.
  • Biotech companies (Research and Development phase as well as production phase): we accept diagnostic, therapeutic and preventative biotech R&D and products with application not only in healthcare but also industry (bio-remediation, organic chemicals etc), agriculture (pesticides etc), and food testing. We have tackled biochemical products including reagents.
  • Medical Devices (invasive and non-invasive) manufacturers, importers, distributors, and suppliers (Class I through Class IV). Our appetite is as broad as the products within this category, everything from therapeutic to diagnostic devices, implants, software, patient alarms, monitoring equipment, surgical and dental supplies, optical products, scientific and surgical instruments and tools, hospital furnishings and equipment, and mobility aids.
  • Clinical Research Organizations and consultants, both early and late stage, including site management and international exposures.

LifeSciences - Clinical Trials Facility

SUM Insurance is pleased to offer a unique International Clinical Trials Liability facility, via the London market. This product brings veteran industry experts together to deliver a unique and efficient value proposition to the Canadian marketplace. The programme enables brokers to service even the most challenging Clinical Trial protocols and placements with one point of contact, SUM Insurance.

We believe this programme offers the widest range of covered Territories available, along with the most flexible terms and most rapid service level. The product is available seamlessly in 70 countries in total, collaboratively engaging not only Lloyds Underwriters, but also local fronting insurers (where required) and other licensed carriers (where necessary). This territorial breadth is increasingly valuable as researchers seek to reach ever more genetic diversity by running Trials simultaneously in all corners of the Globe. Security behind the product is A+, supported by underwriters and intermediaries with long experience and commitment to this segment.

The facility has limits of up to GBP 100M per protocol, available in local currency as required (and with flexibility on premium currency). The policies are compliant with each jurisdictions' legislation and regulations, with Master Policies offering DIC/DIL provisions. Policy negotiation, issuance and maintenance is centrally managed via SUM Insurance, reducing service times. English translations of the local wordings are available in most territories. Claims handling is similarly managed on a centralized basis.

As economic headwinds moderate and R&D funding returns to the Biotech and Lifesciences marketplace, we believe Canada will enjoy an uptick in Clinical Trial and research activity. This programme is your competitive advantage in this space.