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Our client is a pharmaceutical company based in Barcelona, specializing in the research and development of biotechnological drugs aimed at treating rare diseases. With over 200 employees and highly advanced laboratories, their operations critically depend on the continuity of their processes, the protection of intellectual property, and strict compliance with the regulatory standards governing the sector.
In 2023, the company faced several risks that threatened both its stability and reputation. On one hand, cyber exposure was particularly sensitive due to the handling of patient data and clinical research; a security breach could have had very serious legal and financial consequences. On the other hand, operational risks such as fires or floods put both the facilities and ongoing trials at risk, jeopardizing the continuity of operations. Additionally, in such a highly regulated environment, it was essential to have a professional liability policy to address potential technical errors or legal claims arising from its activities.
Based on a thorough assessment of all the risks the company was exposed to, we designed an insurance program tailored to the specific needs of its business. A cyber insurance policy was purchased, covering security breaches, ransomware attacks, and data loss, including rapid response and crisis management services. To ensure operations in the event of physical incidents, a property damage policy was included, covering everything from laboratory equipment to specialized machinery, as well as loss of profit due to business interruption. The professional liability coverage was crucial to protect the company against errors or claims related to clinical trials, including legal expenses and regulatory fines. Additionally, we established a continuous advisory service, reviewing the coverage and adapting it to any regulatory and operational changes the business might face.
Thanks to this comprehensive approach, the client was able to successfully handle critical situations without affecting their operations or reputation. In 2024, a cyber attack compromised sensitive research data, but the cyber insurance fully covered the mitigation costs, preventing a loss exceeding €500,000. A year earlier, during a flood that partially affected their facilities, the property damage coverage allowed production to resume in less than a week, minimizing the impact on ongoing clinical trials. Additionally, the professional liability coverage proved essential in managing a claim related to a technical failure, avoiding significant legal costs and protecting the company’s image. With solid insurance planning and continuous strategic support, the client was able to fully focus on its purpose: developing innovative treatments that change lives.
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