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When life sciences companies require global trial insurance documentation, they need a fast and accurate response. Enter WORLDcertTM.
Extended General Liability
Our Extended General Liability for Life Sciences (available in the U.S. only) includes a number of cutting-edge features.
Chubb is a proven leader in cutting edge property and business income solutions tailored specifically for life sciences companies.
Insurance for Pharmaceutical/ Biotechnology Companies
- The FDA places a clinical hold on your trial due to serious adverse events sustained by three participants.
- A fire devastates a key suppliers’ plant in Belgium, halting manufacturing at your plant.
- After a power outage, perishable cell cultures representing years of critical R&D spoil over a holiday weekend.
- You are sued for bodily injury arising out of exposure to a drug sold by a company two years before you acquired them.
These are just a few examples of the types of risks facing pharmaceutical/biotech companies. Chubb’s quality insurance program,
“Customarq for Life Sciences”, offers a myriad of innovative insurance products tailored specifically for pharmaceutical/biotech
Chubb is a proven leader in insurance programs for pharmaceutical/biotech companies worldwide. Since 1995 we have had a dedicated
team of underwriting, loss control and claim staff focused on your fast paced industry. Over 200 employees spread throughout
Chubb’s global branch network serve Life Sciences companies full-time. Through the years we have gained valuable knowledge
and experience which manifests itself in our flexibility and responsiveness. Our products and services have been recognized
by the Biotechnology Industry Organization (BIO), who has named Chubb their BIO Business Solutions endorsed property casualty insurer.
- Extended General Liability insurance eliminates certain “end of policy period” restrictions for injury or damage. For a company
like yours where there can be potentially long time frames between when a product is developed, when it caused injury, when
you knew about the injury, and when an insurance claim is filed, this provides significantly broader insurance, and peace
- Do you have sensitive property subject to spoilage or contamination? Could a government body condemn undamaged stock after
a loss? Chubb’s expanded “all- risk” insurance responds to change in controlled environments, contamination, and condemnation
of undamaged stock.
- Profit from milestone payments or other contractually stipulated payments to further R&D operations that would have been earned
but for a covered property loss are insurable. Our ability to insure such income, without sublimit, under business income
insurance sets us apart.
- Chubb recognizes that R&D operations do not generate a profit. That’s why our business income policy, unlike standard industry
forms, doesn’t reduce your business income claim for net losses you incur during the period of restoration. The advantage?
Your ability to claim for all continuing normal operating expenses for R&D operations, with no deduction for net losses.
- Errors and omissions (financial/economic injury), intellectual property infringement liability, media liability, privacy liability
and privacy remediation expense are addressed via Integrity+ by Chubb, a single, blended liability policy that helps minimize
critical insurance gaps.
- Customarq Global Extension expands your domestic property and liability insurance to be worldwide . Broad difference in conditions
insurance from local contracts and admitted underlying insurance policies in foreign countries where required. You benefit
from a coordinated approach and dependable quality from Chubb’s multinational infrastructure.
Think LEADERSHIP. Think Chubb
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