Life Sciences Insurance
Chubb Commercial Insurance
The life sciences industry is fast paced and highly innovative. These companies look for business partners that can keep up,
and their insurance provider is no exception. With its commitment, expertise and tailored products, Chubb is the insurer of
choice for pharmaceutical organisations, medical device companies, healthcare product service organisations and more. Chubb
has been one of the top providers of insurance protection to the life sciences industry worldwide for more than 20 years.
Chubb has a unit focused exclusively on the life sciences industry and continues to break through traditional boundaries with
sophisticated insurance solutions that respond to the growing needs of this industry.
What does Chubb Insurance offer?
Chubb Insurance offers enterprise-wide solutions with specialised products for General Liability, Products and Human Clinical
Trials Liability and Errors & Omissions. These products are precisely crafted for life sciences companies:
- The hybrid General Liability policy offers a dual trigger-an occurrence trigger for Premises/Operations and a claims-made
trigger for Products Hazard Liability. Traditional stand-alone policies are also available.
- Errors & Omissions insurance helps protect businesses from lawsuits that allege financial losses due to failure of products
or services to perform to specifications. It can be customised to respond to losses resulting from the need to stop using
a product due to the risk of future bodily injury or property damage.
Chubb's multinational infrastructure delivers these insurance solutions on a global basis with a coordinated approach and
dependable quality.
Articles and resources on management techniques for the Life Sciences industry are available from our global website Chubb.com.
To visit Chubb.com's Life Sciences resources page just click on this link: Life Sciences Resources
Who do we cover?
Chubb Insurance can provide insurance cover for the following:
Pharmaceutical Companies
Coverage is available for manufacturers of prescription and over the counter drugs and dietary supplements. We will also consider
providing cover for manufacturers of veterinary products, although to be considered the veterinary products must be manufactured
for the purpose of treating a disease.
Medical Device Companies
Coverage is available for manufacturers of medical devices and laboratory equipment used in the research and development of
new drugs and medical devices.
Drug Discovery Companies
Coverage is available under this category for companies such as biotech R&D companies developing new therapies based around
genomics or proteomics and other studies of disease at the molecular level.
Coverage is also available for Bioinformatics companies in this category;
Contract Research Organisations
Coverage is available for companies in the business of providing support services to Pharmaceutical, Medical Device, or Drug
Discovery companies on a fee for service basis.
These support service activities can include contract research, laboratory work, clinical work (relating to human clinical
trials), product design or development reviews.
Contract Manufacturing Organisations
Coverage is available for companies that provide manufacturing, packaging or labelling services to Pharmaceutical and Medical
Device companies on a fee-for-service basis.
Human Clinical Trials
Coverage for Human Clinical Trials is an actively pursued class of business by Chubb Insurance, we can consider stand-alone
coverage for all human clinical trials conducted by commercial sponsors and, subject to underwriting criteria being met, certain
academic or investigator-initiated human clinical trials.
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