Risk scenarios
Chubb Commercial Insurance

Chubb Insurance has decades of experience in the life science sector. We therefore understand the unique risks these companies face.

You may be unaware of how Chubb can help you mitigate these risks. Consider the following examples:

• A stent manufacturer’s employee voluntarily participated in her company's human clinical trial. The participant suffered bodily injury and alleged improper informed consent. The participant filed a suit against her employer. Chubb’s life science cover clearly states that the employee's injuries in a clinical trial will be covered and that agreed compensation cover will be provided.

• A biotechnology company's cell cultures, representing an accumulated investment of $1.7 million over 22 months, spoils after a power outage cuts electricity to the facility and the back-up diesel generator fails. The company, who was on track to earn a $1 million milestone payment for a sponsor, loses both the cell cultures and the opportunity to earn the milestone payment. Change in controlled environment and research & development income provisions in Chubb’s policy respond by insuring the re-creation of the cell cultures, as well as indemnifying the biotechnology company for the lost milestone payment.

• A pharmaceutical company uses a contract manufacturer to produce its capsules. A custom soft-gel encapsulation machine suffers a mechanical breakdown and requires extensive repairs. The repairs take six months, but the existing inventory lasts only two months. Catastrophic loss is avoided because our dependent business premises protection responds to the business income loss over the remaining four months.