Insurance and risk management services for life science companies working to improve human health
From supply chain disruptions to the constant search for breakthrough innovations, life sciences companies face scrutiny, pressure, and ever-changing liability risks. Chubb supports our over 6,000 life sciences clients in their ground-breaking and life-saving work with our specialized and dedicated life sciences practice team.
Chubb understands the unique risks the life science industry faces:
Evolving global exposures
Changing regulatory and legal environments
Commercialization and distribution issues
Increased interdependencies within the supply chain
A fast-growing pharmaceutical company needed a partner who understands the complex risks involved in running clinical trials in different countries. Through WORLDcert™, our state-of-the-art interactive clinical trial insurance and certificate management system, we were able to build an integrated solution to meet their needs and render it easier to secure insurance certificates for various sites in the different countries.
Surgical instrument manufacturer
This manufacturer makes a complex product, so they wanted coverage that included product recall insurance with products and completed operations, general and property liability, and sophisticated risk engineering services to address their property exposures. We paired a range of insurance products with risk mitigation services to address all their needs.
Site management organization
Top of this client’s concerns were data privacy and security, and they wanted a partner who really understands the nature of cyber risk. We put together coverage that included the ability to conduct cyber risk assessments and provide online cyber education for their staff. In addition, they required healthcare coverage, products liability and Errors & Omissions (E&O) coverage.
Products & Services
Products & Services
Whatever your life sciences company focuses on, you can find the right insurance coverages to meet your requirements
Clinical trials insurance
Our clinical trials insurance and underwriting expertise meets the needs of companies that conduct clinical trial programs around the world and qualifies us to help you coordinate your trial insurance programs and avoid costly delays.
Chubb helps keep you in the business of improving patients’ lives
We’re proactive, knowledgeable, and responsive to your needs. Our life sciences risk engineers identify exposures — from property to regulatory to perishable supplies — and suggest preemptive measures to minimize losses. For multinational companies, our cash flow structure solutions help simplify your global casualty programs.
If an incident occurs, our team of life sciences claims representatives has deep knowledge of the sector — including in litigation — to facilitate the best outcomes.
Whatever your size, wherever you operate — locally or globally — we offer a broad range of life sciences insurance options, as well as significant limits. For more than 30 years, we've insured life sciences companies, and our industry-knowledgeable team of more than 100 underwriters, risk engineers, and claims professionals are dedicated to mitigating your unique and evolving exposures.
Partnership that’s personal
We work to understand your business and where you’re headed so we can be proactive about meeting your needs. Whether your business is big or small, we invest in getting to know you, your team, and your customers. The goal: to help you see ahead, be ahead, and stay ahead.
Insurance isn’t one-size-fits-all – and neither is our approach. Our playbook is always evolving because we’re always striving to help clients avoid risk in smarter ways. That means we bring the latest thinking and a fresh perspective to helping solve your risk challenges.
Expertise and financial strength
Chubb has served clients and partnered with leading organizations for more than 200 years. Our longevity, expertise, and financial strength are the bedrock of our business. That’s why 95% of Fortune 1000 companies are Chubb insured.
Our package policies include contingent business income coverage that indemnifies your company in the event of a loss from a covered peril to property of third party suppliers that disrupts the supply chain. We will help you to evaluate your contingent business interruption limits needs carefully by providing a basic business income calculator. For larger, more complex organizations we can assign you a business income consultant to determine what you need.
Perishable property is often the most critical asset of a life sciences company, so we understand that any malfunction or loss of power to refrigerators or freezers, or any introduction of contaminants, can be devastating. Our property policy includes all-risk ‘change in controlled environment’ insurance for spoilage of perishable property at owned locations, and in transit. It also covers contamination from bacteria, mold, mildew, viruses, microorganisms, pathogens, radiation, or airborne microbes.
In addition, we take a proactive approach to risks of spoilage and contamination, helping clients develop loss control recommendations.
We can review clients' third party contracts from a risk management perspective to help the clients and their attorneys identify potential liability risks that may be presented. We can work with clients' insurance agents and brokers to help ensure they appreciate these risks as they advise their clients on applicable insurance solutions.