Biotechnology Industry Organization Renews Its Endorsement of Chubb
800 Biotech Companies Tap Insurer’s Specialized Products and International Capabilities
The Biotechnology Industry Organization (BIO) has renewed its endorsement of the Chubb Group of Insurance Companies’ life sciences program. Now in its ninth year, more than 800 biotechnology companies participate in the program, which includes general property and casualty insurance products, as well as product liability and clinical trials liability insurance.
“Among property and casualty insurers, Chubb stands alone in understanding the unique needs of the biotechnology industry,” said Alan Eisenberg, executive vice president, emerging companies and business development, BIO. “Its investment in an organizational infrastructure to respond to those needs worldwide is second to none. Our members appreciate the consistency and stability of the relationships they have fostered with Chubb.”
The Chubb program is the most utilized of the 14 BIO Business Solutions programs, which offer BIO members special benefits on a variety of products and services ranging from laboratory supplies, news distribution services and employee benefits solutions. Members of BIO, or any of the 33 state or regional biotechnology associations that also endorse the program, can access Chubb’s products and services through Chubb-appointed insurance agents and brokers.
Philip Fiscus, senior vice president, Chubb & Son, and worldwide life sciences manager, Chubb Commercial Insurance, said, “Chubb is proud to be endorsed by the preeminent biotechnology organization, and we look forward to continuing to provide customized insurance and loss-prevention services to this industry and to BIO’s members around the world.”
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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