Medical Devices

Over the last three decades, Gallagher WGA has supported hundreds of life science companies with risk management and insurance needs. Many of these cutting edge organizations work within the medical device sector, developing critical instruments and equipment that provide revolutionary rewards for patients and consumers.

Thanks to rapid technological advancement, medical device manufacturing takes place at a much faster pace and allows researchers to bring new designs to market quicker than ever before. Still, biomedical engineering is a complex process that requires robust guidelines and production criteria, not to mention one that entails numerous risks. The researchers, scientists and product developers at these organizations look to Gallagher WGA for advice on risk avoidance, risk reduction and risk transfer. In an industry as dynamic as the medical device world, no other insurance broker has more expertise to help guide these companies to higher profitability in areas such as:

  • Products Liability
  • Errors and Omissions
  • Supply Chain Protection
  • Intellectual Property Protection
  • Directors’ and Officers’ Liability (D&O)

Several of Gallagher WGA’s life sciences and medical device clients have recently looked to Gallagher WGA’s Management Liability team for guidance with their D&O programs for their Initial Public Offering. In fact, Gallagher WGA’s Management Liability team has assisted 57 clients through their IPO process in the past 3 years. Our team has an unsurpassed understanding of the complex issues involving D&O through our experience working with companies in our key industries.

In addition, our team provides expertise in all areas of Property insurance placements, including identification of goals and program objectives, risk and loss analysis, site surveys, and recommendation compliance. With a trained engineer and attorney on staff, our team can provide sophisticated loss control and business continuity advice ranging from facility protection to workers safety. And with our wide range of experience in the area of workers’ safety, Gallagher WGA can assist with your development of a safety plan, OSHA compliance guidelines, ergonomic reviews, and fleet safety.

When it comes to Workers Compensation, our team gives special attention to handling such details as loss run reviews; scheduling regular claim reviews, and overseeing special claims handling instructions and procedures. This relentless commitment to minimizing loss while resolving open claims results in an overall reduction in the cost of risk for our medical device clients.

Gallagher WGA has the experience and knowledge to identify the unique risks facing medical device manufacturers. Our brokers utilize these resources to address critical exposures and reduce our clients’ overall cost of risk. For example, product liability claims, particularly those related to bodily injury, are a reality in today’s medical device product market. These risks threaten both company individuals and the organization as a whole. Gallagher WGA’s Life Science team was formed to address product liability risk management issues that confront medical device companies. No matter what type of specific exposure you face, choosing Gallagher WGA as your broker provides expert advice and the best defense against the escalating cost of risk.

If you are looking for assistance in placing a risk management program for a medical device company, please email Gallagher WGA at info@WGAins.com, call us at 888-261-8884, or click here to tell us more about your specific needs.