Protect your ring with Chubb Valuable Articles insurance and get the peace of mind and financial security you need.
Because pets are family, Chubb now offers pet insurance with top-rated coverage from Healthy Paws.
Chubb offers the insurance protection you need for travel’s many “what ifs”.
Chubb protects small businesses at every stage – from newly formed start-ups to long-time anchors of the community.
Stay ahead of cyber threats with our free Cyber Claims Landscape Report.
Learn more about our dedicated learning paths, Online Learning Center, and more.
Many digital-savvy consumers look for it as a core or add-on option.
Many digital-savvy consumers look for it as a core or add-on option.
Many digital-savvy consumers look for it as a core or add-on option.
Chubb’s in-house technology makes it easy to integrate what we do into your customer experience.
A malfunction or loss of power to refrigerators, bioreactors or freezers can be devastating to Life Sciences organizations such as biotech firms. Drug discovery companies, as well as contract manufacturing or research organizations, are no less immune from spoilage risk. Incidents arising from a Change in Controlled Environment (CICE) can be very costly beyond just the monetary value. CICE losses can result in missed R&D project milestones or adverse customer relationships. A successful risk management program integrates a planned approach to minimize the impact of losing critical cell lines or other sensitive property.
The first step is to understand the significance of perishable property and the risks associated with the controlled environments. Values may range from a few hundred dollars to millions of dollars, often requiring months of replacement lead time. This can negatively impact revenue and relationships.
The initial risk assessment should include the following steps:
There are a number of solutions available to manage CICE. Duplication and separation of critical sensitive materials and process equipment is a key to minimizing the impact of the loss of a bioreactor, refrigeration, freezer or cryo unit. The level of robustness in terms of needed countermeasures depends on the risk assessment outcome.
Spoilage incidents can result from power supply issues or human error. Examples include contractors turning off the electrical power without realizing the consequences, personnel mistakenly leaving a freezer door open or individuals forgetting to plug a unit back in after relocation. Each of these actions can lead to the loss of controlled environmental conditions.
Consider the following best practices to avoid these common mistakes:
In the event of a refrigeration, freezer or bioreactor unit failure, it is important that early detection of a temperature excursion is achieved so that corrective action can be taken.
Here are some important factors to consider:
Fire personnel are trained to shut down power on arrival at a site. Pre-planning with the fire department could avoid this. By letting them know there is temperature-sensitive property on site, responders can be trained to maintain electricity to critical areas, thus minimizing damage.
Liquid nitrogen dewars provide different exposures than refrigerators and freezers and require some different solutions. They are not always reliant on the electrical supply and are portable and flexible, which is why they often contain critical stocks and raw materials. However, the very low temperatures involved often give a false sense of security.
Liquid nitrogen level and dewar temperature should be monitored via alarms with remote notifications systems to alert personnel to potential temperature excursions.
Use this emergency planning checklist before beginning work within a controlled environment to prevent any unintended consequences.
The following resources are located on the Chubb Risk Consulting Library:
This document is advisory in nature and is offered as a resource to be used together with your professional insurance advisors in maintaining a loss prevention program. It is an overview only, and is not intended as a substitute for consultation with your insurance broker, or for legal, engineering or other professional advice.
Chubb is the marketing name used to refer to subsidiaries of Chubb Limited providing insurance and related services. For a list of these subsidiaries, please visit our website at www.chubb.com. Insurance provided by ACE American Insurance Company and its U.S. based Chubb underwriting company affiliates. All products may not be available in all states. This communication contains product summaries only. Coverage is subject to the language of the policies as actually issued. Surplus lines insurance sold only through licensed surplus lines producers. Chubb, 202 Hall's Mill Road, Whitehouse Station, NJ 08889-1600.