Medical Device / Pharmaceutical Industry Support

Driving innovation is one of the ways healthcare information technology (HIT) companies are transforming the delivery of healthcare. Your products and services are geared towards supporting medical device manufacturers and/or the pharmaceutical industry, and you are exposed to a myriad of risks that require innovative integrated solutions. 

With Chubb, one integrated insurance program can respond to multiple allegations including Economic Injury, Bodily Injury and Violation of Privacy Claims, worldwide. In your business a single event could trigger claims involving multiple types of insurance, so having one insurer address these claims is a distinctive benefit with Chubb. Further, liability claims involving products used in a healthcare setting can be much different than traditional general liability claims. We’ve recognized that and have an integrated team of people in underwriting, risk engineering and claims for the technology and life sciences industries worldwide.

Consider the following:

• The interactive voice response system you created for your customer’s clinical trial is programmed incorrectly, causing an incorrect sorting of clinical trial participants. This invalidates the trial data and the customer must re-do the trial at a significant additional cost to them.
• An error in your compound screening software tool is identified by one of your customers, invalidating months of their work; the customer incurs significant additional costs to re-do their work.
• After using your bioinformatics tool to analyze clinical trial results, your customer discovers an error in the tool and incurs substantial additional costs to re-do their reports for submission to the regulatory authorities.