Biomedical and life sciences – an opportunity for brokers
Product expert, Simon Webster, explains that the diverse and growing biomedical and life sciences sector provides a real opportunity for insurance brokers as most will have several risks that need this type of specialist cover.
The UK biomedical and life sciences sector generates £52bn annually from businesses across the pharmaceutical, biotechnology, medical device, dietary supplement, medical food, laboratory instruments and equipment industries.
These markets have historical strong growth and forecast rates are 8-10% per annum. The sector is SME driven and regionally diverse; it’s not just focussed around London and the South East, with activity in Scotland, South Wales and North West England, especially Liverpool and Manchester.
Read the full report to find out more about the sector and the wide range of opportunities it affords the broking community.