TMK launches first life science insurance product

Tokio Marine Kiln (TMK) recently launched its first life sciences insurance product, IntelliMed, to address coverage gaps.

IntelliMed offers specialist and bespoke coverage for life sciences risks, ranging from traditional medical device and pharmaceuticals through to novel smart medtech products and telemedicine services, and new apps in development.

IntelliMed is believed to be the first life sciences product in the Lloyd’s market to provide comprehensive cyber and intellectual property (IP) coverage in addition to coverage for products liability, professional indemnity, medical malpractice, public liability and clinical trials, under one policy.

IntelliMed is designed for small research & development start-ups through to larger and more well-established businesses operating worldwide outside the United States. Clients that could benefit include companies specialising in medical devices, pharmaceuticals, biotechnology, clinical trials, skincare, nutraceuticals, veterinary drugs, medtech, apps and telemedicine services alongside clinical research organisations.