Life Sciences

Life science companies need time to focus on innovation and product development. So we support your business with specialised life science insurance expertise to manage your challenges, from supply chain disruptions to ever-changing liability risks – giving you space to concentrate on your operations.

Focus Area

Offering you protection and knowledge across the life sciences spectrum
Services

WORLDcert™

Chubb’s state of the art, interactive clinical trial insurance and certificate management system, WORLDcert, has been designed to make securing coverage more user-friendly and efficient. WORLDcert provides details of clinical trial insurance requirements worldwide, and relays important insurance information, enables issuance of clinical trial insurance quotes and certificates… in most cases, instantly. WORLDcert, gives unprecedented control over the certificate and insurance management process.

FAQs

These are companies that develop products to prevent, diagnose, treat or cure disease in humans or animals, and the service organisations that facilitate this activity. The products are defined as medical devices and pharmaceuticals, and also laboratory equipment that’s used in the development of Life Science products.

If they’re manufactured under GMP, nutraceuticals are included in our appetite – ie products taken by mouth that contain a ‘dietary ingredient’ intended to supplement the diet, herbals and botanicals, vitamins and medical food. However, we don’t actively pursue animal health products designed to increase production or weight (including dietary supplements).  

This is protection for interruption to money spent on creative work undertaken on a systematic basis – to increase the stock of knowledge and use this knowledge to devise new applications – following material damage to property insured. Our policy can provide cover for money spent on the research and development of new products and projects, as well as R&D income and costs that a business is committed to pay.

Contractually the insured may be liable for the financial injury to third parties due to a defect, error or omission in their product or service; this is provided under our professional indemnity section. There is clarity of cover under our policy, as products liability covers bodily injury and property damage for both products and services, and professional indemnity covers financial injury to the insured’s clients – again, arising out of services as well as products.

Products liability is for approved products; clinical trials insurance provides not only legal liability but also no-fault compensation to all participants involved in clinical trials, to ensure they’re protected in line with local regulations. Often there’s a legal requirement to cover trials locally in the countries where they’re being conducted, and we can provide cover in many territories to ensure research subjects are adequately protected and compensated.

Resources

Insights and expertise

We keep you informed – and your business protected – with these helpful articles.
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Current Challenges in European Clinical Trials: CTIS and Ethics Committees
The CTIS system, introduced in 2022, has been challenging for clinical trials insurers. In this article, Chubb’s Alex Forrest, Head of Industry Practices and Life Sciences, explains why.
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Cybersecurity tips for Life Science companies
Life sciences companies across the UK and Europe are exposed to cyber threats. In this article, we discuss the most common risks and how businesses can help to protect themselves.
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Commissioning a new life sciences facility: 7 aspects to consider
New life sciences buildings may require specific features to minimise risk and optimise output. Learn more about these considerations and how to implement them.

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