La Playa: Insurance with Intelligence®

Science & Technology

La Playa: Insurance with Intelligence®

Stock Deterioration Insurance

Deterioration of stock contained in a controlled environment is a significant cost for life science businesses

How safe is your R&D material? The contents of your freezers may represent months of valuable R&D time – and without Stock Deterioration insurance, a malfunction could screw up project timelines and hit your revenue.

Insuring “property” in the biopharmaceutical sector differs hugely from risks of other sectors. A key area of concern for manufacture and research organizations is storage of refrigerated stock: losses arising from a change in controlled environment (malfunction or breakdown of fridges or freezers, dewars running dry) can be very costly, and an integrated risk management program is crucial.

Assessing the Risk

It’s important to evaluate how business-critical the contents of refrigeration units are. They may represent months of valuable research and development time, and losses might impact on revenue and clients’ R&D operations.

Consider:
  • The type of perishable property stored in each refrigeration unit
  • Critical temperature thresholds: the refrigerator manufacturer guidelines will outline how quickly the unit would lose temperature if power failed.
  • Estimated cost and time to replace the property?
  • Could production be maintained if one or more units failed?
  • Implications for customer relations and revenue?
  • Review current controls and how are these checked, implemented and kept up-to-date?

Download: Science & Technology Brochure

Stock Deterioration Insurance

Talk to us today.

You can call us to talk more about your business insurance on

How We Can Protect Your Business

Auto Insurance
Auto Insurance
Business Travel Accident
Business Travel Accident
Clinical Trials Liability Insurance
Clinical Trials Liability Insurance
Consequential Loss Insurance
Consequential Loss Insurance
Crime Insurance
Crime Insurance
Cyber and Privacy Insurance
Cyber and Privacy Insurance
Directors & Officers Liability
Directors & Officers Liability
Environmental Liability Insurance
Environmental Liability Insurance
Errors & Omissions Insurance
Errors & Omissions Insurance
General Liability Insurance
General Liability Insurance
Inland Marine
Inland Marine
Intellectual Property Insurance
Intellectual Property Insurance
Lab Insurance
Lab Insurance
MA Insurance
M&A Insurance
Product Recall Insurance
Product Recall Insurance
RD Insurance
R&D Insurance
Risk Management
Risk Management
Workers' Compensation
Workers' Compensation
Stock Deterioration Insurance
Stock Deterioration Insurance
Supply Chain Insurance
Supply Chain Insurance

Monthly Payments

Cancel Anytime

Benchmark Us

Quote within 24 hrs

Testimonials

What Our Clients Say

Specialist & Independent

La Playa's specialist Science & Tech team can help you protect your business with smart, flexible, high-performance insurance - with a friendly human UI. We understand the risks and pressures you face - and we speak your language. We’ll support you with great advice - helping you make good decisions for your business.

Advice You Can Trust

…from an expert who understands you

  • Specialist insurance for science and technology
  • Independent professional advice
  • Relationship-based service: right beside you when you make a claim
  • “Can do” culture
  • Seamless insurance across US and UK
Robot

Tech-based business is 24/7, global and borderless, always exposing you to new risks and liabilities - often in unfamiliar places. As the law struggles to keep pace with technology, insurance can provide a real safety net if you fall foul of changing legislation.

With specialist Science & Technology insurance you can innovate with confidence

La Playa Logo