Lack of commercial appetite drives pharma, life sciences captive spike

• Handful of largest 20 firms can get product liability cover
• Some write just one or two lines, while others take ‘Captive First’ approach
• Captive can centralise data, claims andspot emerging patterns effectively

Captives are an attractive proposition for the pharmaceutical, biotech and life science industries, due to a lack of appetite and capacity being offered by the commercial market, particularly for product liability cover.

Insurers are forcing companies in this space to take higher deductibles, offering lower limits, and tightening terms and conditions.