Insurance for Life Sciences Companies

Chubb’s Life Sciences Industry Practice (LSIP) has been a market leader for over 25 years. With over 100 dedicated and trained P&C Underwriters, Claims Professionals and Risk Engineers — we have the experience and specialized knowledge our clients, brokers and agents depend on.
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Who we serve

Chubb has deep expertise across the spectrum of life sciences companies and their activities from start-ups to the world’s largest companies

Products and Services

From supply chain disruptions to the constant search for breakthrough innovations, life sciences companies face scrutiny, pressure, and ever-changing liability risks. Chubb supports our over 6,000 life sciences clients in their ground-breaking and life-saving work with our specialized and dedicated life sciences practice team.

Clinical trials insurance
Our clinical trials insurance and underwriting expertise meets the needs of companies that conduct clinical trial programs around the world and qualifies us to help you coordinate your trial insurance programs and avoid costly delays.
Errors & omissions (E&O) insurance
In an increasingly litigious society, it’s critical to have insurance protection against liabilities impacting professionals, the services they provide, and their company’s financial reputation.
Property insurance
Supported by our exceptional risk engineering, claims services, and global capabilities, our dedicated underwriters tailor your property coverage to meet the unique needs of your business.
Workers' compensation insurance
Companies of all sizes can get customized coverage with features like proactive managed care to speed return-to-work timeframes, fraud detection and prevention, and litigation and recovery management.
General liability insurance, including products completed operations
Extend your cover through our tailored products from our specialist underwriters and claims professionals, and our experienced risk engineers.

Enhancing Patient Safety: A Guide to Safety Surveillance in Life Sciences

Once a product hits the market, it is essential to establish, implement, and regularly update a robust safety monitoring program to ensure ongoing patient safety. The program enables a dedicated team of professionals from various departments to quickly address unexpected issues, review complaints, malfunctions, and injuries, and identify trends. This provides senior management with the insights needed to make informed decisions and reduce the risk of future harm. 

 

For more information about Safety Monitoring, please reach out to your Chubb Underwriter or Risk Consultant.

lee farrow
CHUBB SPECIALIST PROFILE

Meet our Life Sciences Industry Practice Leader

Lee Farrow | EVP, Life Sciences Industry Practice Leader

“We pride ourselves on being ready with products and solutions that meet the emerging needs of these companies as they pursue scientific breakthroughs.”

Case Studies

Pharmaceutical R&D company

A fast-growing pharmaceutical company needed a partner who understands the complex risks involved in running clinical trials in different countries. Through WORLDcert™, our state-of-the-art interactive clinical trial insurance and certificate management system, we were able to build an integrated solution to meet their needs and render it easier to secure insurance certificates for various sites in the different countries.

Surgical instrument manufacturer

This manufacturer makes a complex product, so they wanted coverage that included product recall insurance with products and completed operations, general and property liability, and sophisticated risk engineering services to address their property exposures. We paired a range of insurance products with risk mitigation services to address all their needs.

Site management organization

Top of this client’s concerns were data privacy and security, and they wanted a partner who really understands the nature of cyber risk. We put together coverage that included the ability to conduct cyber risk assessments and provide online cyber education for their staff. In addition, they required healthcare coverage, products liability and Errors & Omissions (E&O) coverage.

FAQ

Our package policies include contingent business income coverage that indemnifies your company in the event of a loss from a covered peril to property of third party suppliers that disrupts the supply chain. We will help you to evaluate your contingent business interruption limits needs carefully by providing a basic business income calculator. For larger, more complex organizations we can assign you a business income consultant to determine what you need.

Perishable property is often the most critical asset of a life sciences company, so we understand that any malfunction or loss of power to refrigerators or freezers, or any introduction of contaminants, can be devastating. Our property policy includes all-risk ‘change in controlled environment’ insurance for spoilage of perishable property at owned locations, and in transit. It also covers contamination from bacteria, mold, mildew, viruses, microorganisms, pathogens, radiation, or airborne microbes.

 

In addition, we take a proactive approach to risks of spoilage and contamination, helping clients develop loss control recommendations.

We can review clients' third party contracts from a risk management perspective to help the clients and their attorneys identify potential liability risks that may be presented. We can work with clients' insurance agents and brokers to help ensure they appreciate these risks as they advise their clients on applicable insurance solutions.

Ensure Business Continuity with a Robust Plan

Disasters—from natural events to supply chain disruptions—can threaten your life sciences organization. A strong Business Continuity Plan (BCP) is essential to protect research, assets, and operations. A BCP minimizes downtime, safeguards key assets, and ensures rapid recovery after a crisis. It helps you prepare for risks, respond quickly to emergencies, and restore operations efficiently.

 

A proactive Business Continuity Plan can help to protect your business, minimize risks, and stay prepared for any challenge may arise. Contact your Chubb Underwriter or Risk Engineer for more information about Business Continuity including access to our BCP Workbook.

Resources

Insights and expertise

We keep you informed – and your business protected – with these helpful articles.
chimney on a roof
Risk Management
How to keep that roof over your head
Keep your roof in top shape by preventing water leaks with regular inspections.
business woman
All business sizes
5 steps for creating a business continuity plan
Risk managers advise that one of the best ways to make sure your business can reopen quickly – and stay successful – after a disaster is to develop a business continuity plan.
frozen red pole
Risk Management
Cold weather preparedness for your business
Follow these best practices to prepare for winter weather and help minimize its impact on your facilities.
doctor reviews medication
Risk Management
Guide to safety surveillance in Life Sciences
Responding to unforeseen issues with a product's safety profile efficiently and effectively is key to protecting patient safety and a company's bottom line.
lab researchers in cleanroom
Risk Management
Navigating risks in cleanroom environments
While critical in helping materials remain contamination-free, cleanrooms can also pose significant business continuity considerations. Recognizing these and providing suitable protections may reduce the potential and magnitude of a loss event at a life science organization.
Endorsements

Trusted to help manage your life sciences risk

BIO
Chubb is the endorsed property and casualty carrier for BIO – the largest industry organization in the world.
MDMA
We are the endorsed carrier of the Medical Device Manufacturers Association (MDMA), and members of the MDMA are eligible to access certain customized insurance solutions.

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