Medmarc
Medmarc is a public insurance company founded in 1979, specializing in products liability and risk management for the medical technology and life sciences industries. With a team of 54, the company is headquartered in Chantilly, Virginia, and provides tailored insurance solutions and comprehensive coverage for various stakeholders in these sectors.
Company Overview
Medmarc operates within the insurance industry, focusing on providing specialized coverage for the medical technology and life sciences sectors. Founded in 1979, the company has maintained its mission to serve these industries since its inception. Medmarc is classified as a public company and employs a team of 54, categorizing it as a small business. The company's headquarters is located in Chantilly, Virginia, USA.
Insurance Services
Medmarc offers a range of insurance services tailored to the needs of manufacturers and distributors in the medical technology field. The company specializes in products liability, claims management, and risk management. It provides comprehensive coverage for third-party economic loss, including data loss and product withdrawal, as well as medical device recall coverage. Additionally, Medmarc offers automatic coverage for clinical trials and liability protection for institutional review boards.
Specialty Coverage
Medmarc provides specialized insurance solutions for various aspects of the life sciences industry. This includes coverage for clinical trial stage companies and clinical research organizations conducting trials. The company offers errors and omissions coverage tailored to the life sciences sector and compassionate use coverage for unapproved products used on non-study patients. Medmarc also includes coverage for bodily injury resulting from known or foreseeable side effects of products.
Risk Management Solutions
Medmarc focuses on collaborative risk management solutions to meet the evolving needs of its clients. The company emphasizes impartial underwriting to ensure fair and unbiased insurance coverage. It offers a broad definition of 'wrongful act' to cover various activities within the life sciences industry. Medmarc's risk management services are designed to provide superior customer service and tailored underwriting solutions for life sciences companies.
Global Coverage
Medmarc provides worldwide coverage for products and work, subject to U.S. sanctions. The company offers insurance coverage for non-U.S. clinical trials through international partnerships. This includes coverage for medical expenses for test subjects in clinical trials and coverage for terrorist events under the Terrorism Risk Insurance Act. Medmarc's global approach ensures comprehensive protection for its clients operating in diverse markets.