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Insurance for the chemical and pharmaceutical industry
Chemical and pharmaceutical plants concentrate high technical risks: hazardous substances, complex processes and products that reach millions of people.
Activities we advise on
Oller Brokers has been an insurance broker since 1952. It advises businesses in the chemical and pharmaceutical industry on the design, placement and review of their insurance programmes, with access to more than 70 insurers.
That is why the insurance market scrutinises them closely. We prepare the technical information, negotiate with several insurers and review the whole programme or a specific policy to obtain robust cover and competitive terms.
- Chemical and pharmaceutical groupsGroups with several plants, laboratories and subsidiaries in other countries.
- Chemical industryBasic and fine chemicals, paints, adhesives, detergents, industrial gases, chemical distribution, etc.
- Pharmaceuticals and cosmeticsPharmaceutical laboratories, active ingredients, medical devices, cosmetics, perfumery, etc.
Risks and cover
Choose a risk to see which insurance covers it in the programme of a company in the sector.
Risk
Fire and explosion
Processing and storage of flammable or reactive substances.
How it is covered
Risk
Pollution
Spills, leaks or emissions giving rise to environmental liability.
How it is covered
Risk
Product liability
Claims for adverse effects of a medicine, a cosmetic or a chemical product.
How it is covered
Risk
Product recall
Defective batches that have to be withdrawn from the market.
How it is covered
Risk
Business interruption
Plants with permits and validated processes that are hard to replace in the short term.
How it is covered
Risk
Directors' liability
Management decisions and regulatory compliance that can lead to personal claims.
How it is covered
Insurance they typically need
Every company is different. These are the policies that carry most weight in the programme of a company in the sector.
- All risks property damageBuildings, machinery and stock against any damage not excluded.
- Business interruptionYour margin and fixed costs while operations are halted by a loss.
- General and product liabilityDamage to third parties caused by the business activity or by its products.
- Environmental liabilityPrevention and remediation of environmental damage.
- Product contamination and recallCosts of withdrawing a batch from the market and resulting losses.
- D&OClaims against directors and officers for their management decisions.
- Goods in transitDamage to or loss of goods during transport.
- International programmesCoordinated cover for subsidiaries and activities in other countries.
- Cyber insuranceIncident response, business interruption and data-related claims.
Two ways to get started
Full programme review
We analyse all your policies together: duplicated cover, gaps, sums insured, deductibles and exclusions. We then present alternatives from different insurers.
Review of a specific policy
A renewal with a premium increase, a contract requiring new cover or a poorly resolved claim. We examine that policy and look for better terms.
Large risk programmes
A medium-sized or large company does not need a stand-alone policy, but someone to design, place and defend a complete programme. That is what we have been doing since 1952. See more
- Risk analysisWe study the business's activities, facilities, contracts and claims history. Working with specialist firms, we also offer a risk management service.
- Properly valued sums insuredWe review insured values and business interruption so that a claim payment is not reduced due to underinsurance.
- Access to the whole marketMore than 70 Spanish and international insurers, underwriting agencies and Lloyd's through coverholders.
- Co-insurance and excess layersWhen a risk exceeds one insurer's capacity, we spread it through co-insurance and structure it in as many excess layers as needed.
- International programmesFor groups with subsidiaries outside Spain, we coordinate international programmes that comply with each country's regulations.
- In-house claims teamSupports the business from notification through to settlement and defends its position with the insurer.
Frequently asked questions
Is it difficult to insure a chemical plant?
Insurers ask for more technical information and not all of them accept every risk. That is why it is key to present the risk well and approach several markets at once.
Does product liability cover the recall of a batch?
Generally not. Recall is covered by a specific product contamination and recall policy.
What does environmental liability insurance cover?
The costs of preventing and remedying environmental damage caused by the activity, under environmental liability legislation. For many chemical activities, financial security is mandatory.
Other sectors
Can't see your sector? We work with businesses in every field.
Let's talk about your business
We review your insurance programme, or the policy you're concerned about, with no obligation.