From cutting-edge biotech to world-renowned skincare, Australia’s life sciences sector is changing lives – and Coast Insurance is right there with it. Worth over $100 billion and employing more than 350,000 people, it’s one of Australia’s fastest-growing industries.
As innovation accelerates across health, medicine, nutrition and wellness, Coast supports companies leading the charge with insurance designed to keep up with progress. “Life sciences businesses are breaking new ground every day – but innovation comes with risk,” says Samuel Wolozny, Underwriter at Coast Insurance. “Whether it’s sports supplements, wellness products, or implantable medical devices, we help brokers support their clients navigate the complexity with insurance that truly aligns with what they do. We know that a one-size-fits-all approach doesn’t work with this sector.”
“We’re hands-on with brokers, offering clarity, flexibility and deep sector knowledge,” adds Samuel. “From skincare and medical cannabis to contract manufacturing – we look to protect the innovators who don’t fit traditional general liability products.” Coast’s Life Sciences insurance includes core protections like Product Liability, Medical Malpractice, Public Liability, Professional Indemnity, and Clinical Trials cover, with a range of optional extensions such as government mandated and voluntary Product Recall Costs.
“Australian-made sunscreen is some of the best in the world. New sport supplement manufacturers, and importers seem to be showing up all the time, and Australia is really making waves within the Medical Cannabis industry. These are the businesses we’re protecting – the ones protecting everyday Australians to continue doing the things they love,” says Samuel. “Life Sciences is a line we’ve committed to because it’s at the forefront of innovation and wellbeing. It’s about doing business that helps people, drives progress, and shapes a healthier future for everyone.”
Head to Coast’s website for more information.