skip to main content

Chubb’s life sciences property and casualty policies are specifically designed for companies operating in all areas of medical technology research, development or manufacture, irrespective of their size, phase of commercialisation or location.

With deep underwriting expertise developed from serving the Life Sciences community for over three decades, Chubb is best positioned to proactively help companies of all sizes navigate and thrive in today's world of uncertainty. Chubb understands the challenges facing the Life Sciences Industry, including the speed if innovation, cost and pricing complexities, regulatory compliance, and consumer engagement.

Coverage Highlights

What It Covers

For more than 25 years, Chubb has been one of the top providers of insurance protection to the life sciences industry, worldwide. In fact, Chubb has a unit focused exclusively on it – one that continues to break through traditional boundaries with sophisticated insurance solutions that respond to its growing needs.

Addresses some potential gaps in insurance owing to the complex sequence of events and potentially long time frames between when a product is developed and when an insurance claim is filed. Provides blanket human clinical trials protection including medical expenses paid in connection with a human clinical trial. Workers’ Compensation / Employers’ Liability coverage is also available.

Errors and Omissions Insurance

This product helps to protect businesses from lawsuits that allege financial losses due to the failure of products or services to perform to specifications. It can be customised to respond to losses resulting from the need to stop using a product due to the risk of future bodily injury or property damage.

Product Withdrawal Expense

Customised form for life sciences companies that experience a product recall, affording insurance protection for the insured’s expenses associated with communication in connection to, destruction, and disposal of the recalled product.

Clinical Trials Insurance

Offers global solutions for Asian based life sciences companies, including those conducting clinical trials overseas. Coverage includes products-completed operations and professional liability coverage including worldwide coverage where needed with locally admitted policies where required. We have the unmatched ability to issue certificates of insurance in a timely and accurate manner through our global network spanning over 125 countries, supported by our automated on-line clinical trial quote, bind and issuance system, WORLDCert ®.

Chubb's multinational infrastructure delivers these insurance solutions on a global basis with a coordinated approach and dependable quality.

Market Specialisation

We provide coverage for the following companies:

Pharmaceutical Companies

Coverage is available for manufacturers of prescription and over-the-counter drugs and dietary supplements. We’ll also consider providing cover for manufacturers of veterinary products, although, to be considered, the veterinary products must be manufactured for the purpose of treating a disease.

Medical Device Companies

Coverage is available for manufacturers of medical devices and laboratory equipment used in the research and development of new drugs and medical devices.

Drug Discovery Companies

Coverage is available under this category for companies such as biotech R&D companies developing new therapies based on genomics or proteomics and other studies of disease at the molecular level.

Coverage is also available for Bioinformatics companies in the following category:

Contract Research Organisations

Coverage is available for companies in the business of providing support services to pharmaceutical, medical device, or drug discovery companies on a fee-for-service basis.

These support service activities can include contract research, laboratory work, clinical work (relating to human clinical trials), product design or development reviews.

Contract Manufacturing Organisations

Coverage is available for companies that provide manufacturing, packaging or labelling services to pharmaceutical and medical device companies on a fee-for-service basis.

Human Clinical Trials

Coverage for human clinical trials is an actively pursued class of business by Chubb Insurance. We can consider stand-alone coverage for all human clinical trials conducted by commercial sponsors and, subject to underwriting criteria being met, certain academic or investigator-initiated human clinical trials.

Downloads

Have a question or need more information?

Contact us to find out how we can help you get covered against potential risks