Chubb has launched new insurance coverage addressing property and casualty exposures for small life sciences companies.
According to Jim Williamson, division president, Small Commercial Insurance, Chubb North America, small life sciences firms are vulnerable to a range of property and liability exposures, including research and development costs, product contamination and class action litigation.
Chubb Small Commercial Insurance’s tailored suite of property and liability products for small life sciences firms includes Chubb BOP (Business Owner’s Policy), which includes more than 100 property and liability features, workers’ compensation, commercial auto, Cyber Enterprise Risk Management (ERM), Digitech ERM, foreign package, umbrella, and management and professional liability insurance protection.
Chubb’s life sciences insurance coverages are specifically designed to help small businesses in the areas of:
- Medical device, pharmaceutical, and biotechnology research and development companies
- Medical device manufacturers and distributors
- Biotechnology and pharmaceutical manufacturers and distributors
- Dietary supplement and nutraceutical manufacturers
- Contract research organizations
- Health technology and healthcare related software development companies
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