The Biotechnology Industry Organization (BIO) has renewed its endorsement of the Chubb Group of Insurance Companies’ life sciences program. BIO first endorsed Chubb’s general property and casualty insurance for its members in 1998. In 2002, the endorsement was expanded to include product liability and clinical trial liability insurance.
The Chubb endorsement is part of the BIO Business Solutions program, which offers BIO members special benefits on a variety of products and services, including laboratory supplies, news distribution services and 401(k) plans. Through the program, BIO members can access information about Chubb’s products and services, which are available through Chubb-appointed insurance agents and brokers. Chubb’s program has the highest utilization rate among all 13 programs.
BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in 31 other nations. BIO members are involved in the research and development of health-care, agricultural, industrial and environmental biotechnology products.
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