By Ariana Ramos | SVP Business Development
Medical device companies operate in one of the most complex and highly regulated industries. From product liability exposures to international supply chains, these businesses face risks that require specialized insurance solutions. Independent insurance agencies can best serve these clients by partnering with a Medical Device Insurance Wholesaler like Telamon.
Why Medical Device Companies Need Specialized Coverage
Unlike standard manufacturers, medical device companies are held to strict standards and face high-stakes liability exposures. Common risks include:
- Product Liability: Claims that a device caused injury or failed to perform.
- Clinical Trial Coverage: Protection during product testing and trials.
- Regulatory Exposures: Costs associated with recalls or FDA compliance issues.
- Property & Equipment: Coverage for labs, production facilities, and specialized machinery.
- Cyber & Data Liability: Many devices are digitally connected, creating additional security risks.
Traditional policies often fall short in addressing these highly specialized exposures.
The Value of a Medical Device Insurance Wholesaler
Working with a wholesaler provides independent agencies with the resources needed to serve these complex accounts. Key advantages include:
- Access to Specialty Carriers: Wholesalers connect agencies to insurers who understand medical device exposures.
- Policy Expertise: From clinical trial coverage to international liability, wholesalers help structure tailored solutions.
- Efficiency: Agencies save time by relying on wholesalers to manage multiple carrier relationships.
- Comprehensive Options: Multiple markets mean agencies can secure competitive, well-rounded policies.
Why Agencies Choose Telamon for Medical Device Insurance
Telamon offers independent agencies the tools, knowledge, and carrier access necessary to succeed in the medical device space.
- Industry Understanding: We know the unique challenges medical device manufacturers face.
- Specialty Market Access: Our carrier partnerships allow us to deliver customized solutions.
- Dedicated Support: Fast, reliable communication helps agencies respond quickly to client needs.
- Focus on Agency Success: Telamon is committed to strengthening your agency’s ability to serve clients.
Final Thoughts
Medical device companies need more than standard coverage—they need specialized insurance crafted to meet complex regulatory and liability risks. By partnering with a Medical Device Insurance Wholesaler like Telamon, independent agencies can deliver expert solutions while building stronger client trust.