Specialist healthcare underwriting agency Tego Insurance is targeting growth in the rapidly expanding life sciences and clinical trials sectors.

CEO Eric Lowenstein says capacity is not keeping pace in these sectors, providing an opportunity for Tego, which is widening its product suite.

“We constantly field inquiries from brokers who cannot find competitive or suitable solutions for existing and emerging risks in the healthcare industry,” Mr Lowenstein said.

“Tego’s mission is to provide that cover.”

Tego says it can provide protection for life science companies, which apply biology and technology to healthcare, as they progress from research and clinical trials to sales and distribution.

Lloyd’s syndicates are providing capacity for the life sciences and clinical trials products, plus an entity medical malpractice product. The entity insurance includes malpractice allegations, errors and omissions, liability for injury or property damage, and cyber liability.

Tego also provides medical indemnity cover to individual doctors under an underwriting agreement started in 2016 with Berkshire Hathaway Specialty Insurance.