The life science sector is not only fast-growing and fast-developing but also strongly regulated and must deal with frequent-changing regulations. For the success of a business, it is of utmost importance to be familiar with prevailing regulations.
When life science companies expand activities to international territories – either in combination with a multinational clinical trial or with bringing products to market – they must adhere to different regulations from the local to state from the national to international level – this creates additional complexity.
Local legislations vary greatly from country to country and it can become costly if you are not aware of the latest changes. Recent amendments of local insurance-affecting regulations were for example, the implementation of categorizations of clinical trials into therapeutic experiments and research experiments in Poland and modified anti-money-laundering laws in Ukraine.
Together, Chubb and Kessler are valuable partners for the insurance of multi-national risks; they are able to support you around the world - from clinical trial insurance in the Netherlands to products liability insurance in Japan – as they have a broad network across the world. They have a deep understanding of the different markets, their entry barriers as well as their current research regulations – both help you stay informed about political, legal and economic developments in the insurance market.
Contact us in early stage of the clinical trial or product lifecycle and we save you valuable time and energy in supporting you through the whole cycle.
Chubb & Kessler’s support to Bioalps
Kessler is the leading risk and insurance management specialist/consultant in Switzerland. It’s Life Sciences Team cooperates closely with Chubb as one of the leading risk solution providers of this sector, particularly in liability and property insurance. Working together, both teams resolve the challenges in risk management in the life sciences sector and provide the industry with innovative solutions.
Chubb is the world's largest publicly traded property and casualty insurance company. With own operations in 54 countries and territories and partners in more than 146 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. Chubb operates since 2003 in Switzerland. In 2008, the holding seat of Chubb Limited relocated to Zurich.
Chubb Insurance (Switzerland) Ltd, a subsidiary of Chubb Limited, currently employs 90 people, worldwide there are approximately 31’000 employees. Chubb Insurance (Switzerland) Ltd is domiciled in Zurich and has an AA rating from Standard & Poor’s. Tailor-made solutions in property, liability, transport, cyber and environmental insurance, financial lines and personal and accident insurance cover the needs of companies and organizations of all size.
Kessler is the leading Swiss enterprise specializing in comprehensive risk, insurance and pension benefits. Founded in 1915, Kessler has 300 employees working at its headquarters in Zurich and its other sites in Basel, Bern, Geneva, Lausanne, Lucerne, Neuchâtel, St. Gallen and Vaduz. We advise over 1,000 medium-sized and large Swiss companies from the service, trading and manufacturing industries, as well as the public sector.
We work closely with you to develop the principles of your risk and insurance policy, and on this basis develop tailored solutions for risk, insurance and pension benefits. We provide these services across all risk practices and associated insurance lines for companies in all sectors. You also benefit from legal advice on all insurance-related issues.
Life Science businesses operate in an evolving, complex and highly regulated industry where the cause of a future claim could be occurring right now but the company may not be aware of this for months or even years.
As a company expands, policies can adapt with flexible covers tailored to its needs and relevant to the risks faced. The diagram highlights some of the key covers that we offer at various stages of a company’s development process.