Insurance for Commercialised Life Sciences & Technology Businesses

As Your Business Grows, So Do Your Risks

As you move beyond R&D into commercialisation, your risk profile becomes more complex. We design and manage bespoke insurance programmes that evolve with your business, supporting you through growth, funding and international expansion.

Key Areas

Approach

FAQs

What are the essential insurance covers for a Technology company?

Technology companies face an array of risks, ranging from allegations of wrongful technology products and services to digital threats that are rapidly developing. Essential insurances for a technology company include:

Professional Indemnity: Protects against allegations of faulty software, service failures, or breach of contract.
Cyber Insurance: Covers financials losses from cyber threats such as data breaches, ransomware, and network downtime.
Public & Products Liability: Shields your business from third-party bodily injury or property damage claims.
Employers’ Liability: A legal requirement if you employ any staff, covering workplace illness or injuries.

How does Cyber Insurance protect against digital threats?

Cyber covers the costs incurred of a data breach or hacking, which includes the restoration, rectification and interruption of replacing the data, in addition to any ransom demands. It will also cover any inadvertent transmission of a virus or any negligence in failing to prevent a data breach, which causes third party losses.

Cover can also extend to Cyber Crime, which protects against financial losses caused from an electronic criminal act from a third party, for example fraudulently purporting to be an individual or business known to you, whereby you have sent funds to them.

Aside from covering the financial losses incurred, leading Cyber insurers can inclusively provide several additional benefits, including Cyber-related training, data breach consultants and real time intel support.

Can Hayes Parsons arrange insurance for overseas subsidiaries?

Yes, there different ways to do this, with the most efficient way depending on your individual circumstances, please get in touch with us if it’s something you would like to discuss.

Can you insure Intellectual Property (IP)?

Yes, you can insure both the cost of defending yourself against allegations of IP infringement and the costs of pursuing third parties who have infringed upon your IP.

What are the emerging risks for a Technology business?

The risks that technology businesses face are constantly evolving, including the growth of:

Artificial Intelligence (AI): New liabilities surrounding automated software and data usage.
Tightening Regulation: Stricter global compliance and data protection laws.
Advanced Cyber Fraud: Increasingly sophisticated, automated digital threats.

Hayes Parsons can work with you to understand your unique risks and how a comprehensive insurance programme is able to defend against and mitigate these risks.

Speak to a Specialist

Behind every innovative business is a team pushing boundaries and behind them, a team that understands the risks. Our specialists combine deep insurance expertise with real understanding of the Life Sciences and Technology sectors and work closely with clients at every stage.

Whether you’re reviewing your current broker, launching a new venture, or accelerating innovation, we’re ready to help you navigate risk and unlock what’s next.