Life Sciences
Chubb is the endorsed insurer of the UK BioIndustry Association
As a leading insurer of life sciences companies, we have teams of technology insurance
specialists worldwide. We have pioneered insurance products for this sector for more
than 20 years in the US and now insure many of Europe's pre-eminent life sciences
companies. Our policies are tailored for the complex needs of biotechnology, pharmaceutical,
medical equipment and product development organisations.
We can offer solutions for the smallest start up company and address
the more sophisticated needs of a biopharmaceutical or medical device
company. Our "all risks" wordings are broader than standard property policies.
What is more, we can respond quickly with insurance documentation for
clinical trials to prevent delays and offer the special "no fault" protection
needed in Ireland as well as the mandatory wordings required in some European
jurisdictions. Traditional and complex risks can be covered at the local
and multinational level.
Key covers
"All risks" coverages can include:
- Change in temperature, colour, flavour and texture
- Cover for animals involved in medicine research
- Full protection for budgeted R&D expenditure
- Loss of R&D income
- Additional increase in the cost of working
- Cost of reworking previously completed research contracts or projects
- Committed costs for items such as materials, research animals and other external purchases
- R&D property and prototypes
- Machinery breakdown
- Full theft cover
- Contamination
- Worldwide cover at collaborators' and suppliers' premises
- Protection against the impact of power failure
- Full protection of revenue streams
- Employers liability
- Errors and omissions
- "Occurrence" public liability
- "Claims made" products liability
- Worldwide clinical trials, including "no fault" compensation and issuance of local certificates
- Political risk
- Business travel
- Goods in transit
- Personal accident
- Directors and officers liability
- Crime
- Kidnap/ransom
For full details, please contact us
at your nearest Chubb branch.
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