An underwriter reveals the must-do items he looks for when evaluating a company
for coverage.
By Philip W. Fiscus
Underwriter scrutiny is like a dose of preventive medicine: You may not like the taste of it, but it's good for you. Life science companies that partner with an insurance carrier and manage risk may qualify for higher limits of insurance at lower rates. For those companies that do not take these steps, affordability of insurance may be the least of their problems: They may not be able to purchase insurance at any price and can expect to be a vulnerable target in the event of litigation. Here are issues to consider when evaluating your company's potential risk. Checking off each one might not only lower your premiums, but also save your business.
1. Use "best practices" rather than just following the letter of the law. Commitment to safety and security ...
