Chubb BIA

The Chubb BIA insurance package policy is designed to meet the needs of BIA members, irrespective of size, stage of development or location.

At Chubb, we offer more than just a policy - we offer a capability. Our offering includes wide coverage that grows as you grow as well as, award-winning service, loss control and risk management techniques. When you are insured by Chubb you have peace of mind.

Our standard cover includes:

• Property i.e. buildings, tenants improvements, stock, computer equipment and machinery
• Research & Development Operations
  • Research & Development Property i.e. cultures, lab books, trial samples
  • Research & Development Expenditure i.e. monthly burn
  • Research & Development Income i.e. milestone payments
  • Committed Costs to PDO's and other support organisations
• Business Interruption including income from contract research activities
• Impairment of Computer Services i.e. hacking, computer virus etc
• Public and Products liability
• Human Clinical Trials
• Employers' liability
• Marine
• Errors and Omissions liability

In addition to our standard cover, all BIA members engaged in bioscience activities will enjoy extended cover when they take out a Chubb BIA policy at no extra cost.

Extended cover for BIA members, available from 1st January 2008 includes:

Loss or damage to property insured, interruption or interference with research and development operations and any resulting business interruption loss...

Arising from:

• Contamination incident and radioactive contamination
  Limit : £100,000
  Protects property that is susceptible to contamination from causes such as bacteria, mildew, micro-organisms, viruses (not computer virus) etc.
• Change in controlled environment
  Limits:
  • Property subject to rapid decay - £75,000; and
  • All other property - £250,000
  Protects valuable property in controlled environments i.e. cell cultures, master cell banks, trial samples against spoilage, change in temperature or change in humidity.
• Machinery breakdown
  Limit: £100,000
  Covers breakdown of laboratory and production machinery such as bioreactors, cryogenic chambers, capsule filling machines, tablet pressers, blister packing machines, fluid bed dryers etc.
• Product Withdrawal Expenses
  Limit £100,000
  Covers expenses necessarily incurred in regaining control over (e.g recall notices, transport and destruction of) products if they present a substantial likelihood of causing injury to people or damage to property.

For more details about the Life Science Package Policy please click here or to find out more about us click here.

Want to know more about our specialist covers and how we can help? Click here to contact us.