Life Sciences Industry Marine Cargo Insurance

Providing valuable expertise and innovative solutions to organizations in the marine cargo, biotechnology, pharmaceutical, and medical devices industries.

Marsh is an innovative risk advisor dedicated to serving the life sciences industry. The cargo professionals within the Marsh's Marine Practice work in collaboration with our Life Sciences Practice to provide valuable expertise and innovative solutions to organizations in the marine cargo, biotechnology, pharmaceutical, and medical devices industries.

The international scope of the Marine Practice allows our cargo professionals to work on client and prospect opportunities without geographic limitation while providing “best in front” service to our clients.

The Marine Practice consists of a network of approximately 600 Marsh colleagues and nearly 30 Marsh & McLennan Companies professionals, including regional and office practice leaders. Our network is industry-visible through national, state, and local associations and trade shows.

Our diverse range of clients in this sector include firms in the following industries:

  • Biotechnology.
  • Genomics.
  • Medical devices.
  • Pharmaceuticals.
  • Contract research.

Comprehensive Services

Our extensive range of coverage solutions for clients in the life sciences industry adresses:

  • Flexible valuation.
  • Control of damaged goods/fear of loss.
  • Regulatory compliance.
  • Shipments under temperature control.
  • Delay, decay and deterioration.
  • Revenue recognition.
  • Brands, label and trademarks.
  • Extra expense.
  • Terrorism.
  • Inventory.
  • Unpaid vendors.
  • Inland transit.

Client Benefits

Placement of stock-throughput coverage: Stock-throughput protection is designed to provide competitive global total cost of risk (TCOR) while freeing up property capacity and creating additional capacity within the marine insurance market. The advantage of this type of marine insurance placement over a traditional property insurance placement includes the availability of additional aggregate capacity and lower deductibles for catastrophe perils.

Marshcargo.com: Our complete online policy management system is always available to you at www.marshcargo.com.

Claims expertise: We offer dedicated claims management services before, during, and after a loss, as well as during the contract review stage prior to commencement of shipments.

Benchmarking: Our industry-specific client benchmarking data is available on a global basis.

RECLAIM: RECLAIM Consulting Services—a trading name of Marsh Ltd.—has the specialist skills and expertise to provide a broad range of claims-adjusting, claims management, and recovery services, all of which have the potential to help clients reduce their bottom line financial losses.

Loss control: The professionals of Marsh coordinate global loss-control resources.

Knowledge sharing: We facilitate client roundtables, advisory councils, and seminars.

Team approach: Marsh not only promotes a team-based approach to account servicing, but also offers a distinctively diverse knowledge base across industries through more than 200 global marine cargo brokers.