Life Sciences

Chubb Launches New Life Science Package Policy

Chubb has designed an insurance package policy specifically to meet the needs* of life science companies irrespective of their size, stage of development or location.

At Chubb we offer more than just an insurance policy - we offer a capability. Our offering includes wide coverage that grows as our customer grows, coupled with award-winning service, claims and loss-control.

The Life Science Package Policy can be tailored to meet the needs of each individual client by combining the following coverage options:

• Property Insurance:
  • Property i.e. buildings, tenants improvements, stock, computer equipment and machinery and plant
  • Business Interruption including income from contract research activities
  • Research & Development Operations
  • Research & Development Property i.e. cell cultures, lab books, trial samples, prototypes
  • Research & Development Expenditure i.e. monthly burn
  • Research & Development Income i.e. milestone payments from collaboration agreements
  • Committed Costs to Product Development Organisations and other support organisations
  • Contamination Incident and Radioactive Contamination - protects property that is susceptible to contamination from causes such as bacteria, micro-organisms
  • Change in controlled Environment - protects property in temperature or humidity controlled environments i.e. cell cultures, master cell banks, trial samples
  • Impairment of Computer Services
  • Money
  • Property in Transit
  • Contract Works
  • Machinery Breakdown - protects laboratory and production machinery such as bioreactors, cryogenic chambers, capsule filling machines, tablet pressers
  • Computer Breakdown
  • UK Terrorism
  
  
• Commercial Liability Insurance:
  • Public Liability
  • Product Liability and Clinical Trials
  • Employers' Liability
  • Product and Service Errors and Omissions
  
  
• Commercial Employee Fidelity Insurance
• Cancellation of Event Insurance
• Marine Insurance

For more details please click here.

*based on independent in-depth telephone interviews carried out with life science companies in 2007.