QBE is reshaping how insurance covers the life sciences industry to meet the demands of a fast-changing world. With new risks emerging from advances in pharmaceuticals, medical devices, and digital health, the company is building a specialized team to handle these challenges.
Headed by John Livatino, Senior Vice President and head of Healthcare Liability, along with Lisa McCormack, Vice President and underwriting leader for Life Sciences, QBE’s approach focuses on deep knowledge and flexibility. They tailor coverage to fit the unique needs of each client, rather than offering one-size-fits-all policies.
Life sciences companies face growing regulatory pressures, especially around product recalls and compliance. McCormack explains that delays caused by confusing new rules can slow down products reaching the market. To help, QBE offers medical expense coverage and product recall protection that address these risks.
Digital health is another area where QBE is adapting. Livatino points out that liability claims often involve missed diagnoses or treatment errors. But there are also surprises, such as media liability claims, which are uncommon in traditional healthcare. QBE looks closely at how companies operate within the tech and healthcare mix, tailoring coverage to whether they are doctors conducting virtual visits, tech firms developing software, or platform hosts.
The insurer also plans ahead for long-term risks that may not yet show up in claims data. McCormack highlights areas like laser cosmetic procedures and cell and gene therapies as high risk. Even new technologies like CRISPR gene editing are on their radar. QBE uses predictive analysis to shape policies that manage these potential future exposures.
For growing med tech and life sciences companies, especially those going through mergers or acquisitions, QBE offers flexible policies that grow with the business. Livatino notes the importance of not forcing clients into multiple policies but finding ways to cover changes under one adaptable plan.
At its core, QBE’s life sciences insurance team focuses on being ready for uncertainty. With experts who understand the industry’s shifts and flexible products that respond to new issues, the company aims to support innovation while protecting against the risks that come with it.