| |
|
Contact: MichBio's preferred broker, JPaul Dixon, of the Hylant Life Science Practice Group at 734-662-1368 or at jpaul.dixon@hylant.com
Or contact an appointed Chubb insurance agent or broker.
|
| |
Property and Casualty Insurance
Clinical Trials Liability Insurance
Error and Omissions Liability Insurance
Products Liability Insurance
Professional Liability Insurance
|
BIO Business Solutions® has selected the Chubb Group of Insurance Companies ("Chubb") as its endorsed insurer due to their total insurance solutions for risks specific to life science companies. For more than 25 years, Chubb has been providing cost-effective risk management and insurance protection tailored to the unique needs of biotechnology companies. Chubb's products include property and casualty, product liability, clinical trial liability, error and omissions liability, and professional liability insurance. Chubb personnel specialize in the biotech market; they understand the issues and develop tailored solutions. This experience and expertise, coupled with financial strength, global capability and superior claims service, are the reasons BIO selected Chubb as its business insurance solutions provider.
Property and Casualty Insurance
The coverages offered by Chubb under the BIO program include:
- customized property insurance
- general liability insurance
- highly protected risk (HPR) arrangements
- worldwide coverage territory
- "damage to your products" insurance
- crime insurance
- loss control and claim expertise
- boiler & machinery protection
- automobile insurance
- workers compensation
- excess and umbrella liability insurance
- disaster recovery and business continuation planning and advise
Clinical Trials Liability Insurance
Error and Omissions Liability Insurance
Products Liability Insurance
Professional Liability Insurance
The coverages offered by Chubb under the BIO program are:
- Clinical Trials and Product Liability: Coverage for commercialized products as well as products in all stages of human clinical trials.
- Errors and Omissions Liability Insurance: Coverage for financial loss to third parties arising out of negligence.
- Professional Liability: Coverage for companies conducting contract research.
Member Benefits
Product and Casualty Insurance
- Very competitive premiums for companies at all stages
- Low minimum premiums for early stage companies
- Dedicated loss control and claims specialists for BIO members
- Use of proprietary Chubb software for determining business interruption limits
- Devoted underwriting teams providing five-day turnaround for BIO members
Clinical Trials Liability Insurance; Errors and Omissions Liability Insurance; Product Liability Insurance; Professional Liability Insurance
- 10% premium credit (subject to regulatory limitations)
- Very competitive premiums for companies at all stages
- Low minimum premiums for early stage companies
- Broad coverage tailored to meet the unique needs of the biotech industry
Eligible Affiliates
In addition to members of BIO, members of the following state and regional biotech associations can take advantage of this program:
More Information
More information about Chubb's capabilities in serving the Life Sciences industries can be found on Chubb's Life Sciences Industry page.
To learn about specific details about the program, including coverages and premium rates, contact MichBio's preferred broker, JPaul Dixon, of the Hylant Life Science Practice Group at 734-662-1368 or at jpaul.dixon@hylant.com.
General information about Chubb Group can be found at www.chubb.com.
You may also contact an appointed Chubb insurance agent or broker.