WHITEHOUSE STATION, N.J., March 13, 2018 /PRNewswire/ -- Chubb has introduced insurance solutions to help protect small life sciences companies from property and casualty exposures facing the industry.
Chubb's deep underwriting expertise, industry leading claims experience, and the Chubb Small Commercial MarketplaceSM enables agents and brokers to better protect their clients from a range of property and liability issues that can have an impact on their business.
"Chubb has been a leader in the life sciences industry for more than 25 years," said Jim Williamson, Division President, Small Commercial Insurance, Chubb North America. "Our experience shows that small life sciences firms are vulnerable to a range of unique property and liability exposures, including research and development costs, product contamination and class action litigation. To address these risks, Chubb Small Commercial Insurance has developed a broad portfolio of comprehensive coverages specifically designed for small life science firms."
Chubb offers a tailored suite of property and liability products to small life sciences firms, including Chubb BOP (Business Owner's Policy), which includes more than 100 property and liability features and benefits beyond industry standard policies, 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 solutions 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
"Chubb Small Commercial Insurance is focused on innovation for independent agents. Our expansion into life sciences is another step on our journey to changing how small business insurance gets done in the independent agent channel," said Williamson.
Additional information on Chubb Small Commercial Insurance offerings can be found at chubb.com.
Chubb is the world's largest publicly traded property and casualty insurance company, and the largest commercial insurer in the United States. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: chubb.com.
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