Liberty Specialty Markets has introduced a new insurance solution aimed at supporting the rapidly evolving life sciences sector across the Asia Pacific, positioning itself to address a long-standing gap in specialised coverage for the industry.
The product, Liberty Remedy for Life Sciences, has been designed specifically for companies working across the full spectrum of the sector, from early-stage research through to global manufacturing and distribution. It provides coverage for organisations involved in pharmaceuticals, biologics, medical devices, diagnostics, complementary medicines and clinical trials, reflecting the breadth and complexity of modern life sciences operations.
The launch comes at a time when the sector is experiencing strong growth but continues to face constrained insurance capacity and limited tailored solutions. Liberty’s leadership believes the new offering responds directly to these pressures by delivering broader and clearer coverage while simplifying policy language for brokers and clients.
According to Alan Thorn, Head of Casualty Specialties for Asia Pacific, the intention was to create a product that removes unnecessary exclusions and makes it easier for clients to understand exactly what they are purchasing. He noted that the life sciences insurance market remains tight, and said the new solution is intended to give businesses more meaningful choices backed by specialist expertise.
A key feature of the offering is its integration with Liberty’s technical risk engineering capabilities.
The company has assembled a specialist team across China, Hong Kong, Singapore and Australia, supported by a global network spanning the United States, Europe and Canada. This structure allows clients to engage directly with underwriters, risk engineers and claims specialists, an approach Liberty argues is particularly valuable in a sector defined by technical complexity and global interdependence.
The policy combines traditional casualty protections with extensions tailored to life sciences exposures, including coverage for clinical trials, product recall and statutory fines and penalties. It is designed for Asia-Pacific-based insureds, accounting for their international operations while balancing global reach with local market requirements.
The launch timing reflects the strong growth trajectory of the life sciences sector in the region. Valued at more than US$17 billion in 2024, the Asia Pacific market is projected to grow at an annual rate exceeding 12 per cent over the next decade, reaching an estimated value of over US$54 billion by 2034.