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Life Sciences Resources
Chubb Commercial Insurance

Even with the best insurance program, companies could still suffer setbacks in the event of a loss. Investing in a good risk management program could help save millions of dollars. The following handbooks, guides, checklists and articles help a company create an effective risk management program.


Handbooks & Guides

Business Income Handbook This handbook is an invaluable resource to help formulate educated estimates of how much it would cost to restore operations quickly. It includes references such as a sample worksheet and a glossary of insurance and accounting terms and phrases.
Business Recovery Planning Guide This CD-based guide outlines disaster preparation, emergency planning and business continuation activities that enable a company to prepare for a disaster and minimize its impact.


Articles

A Panoramic View: What Life Scienes Firms Can Learn from Insurance Companies
The Journal of Biolaw & Business 
November 2, 2007

To really understand the risk profile of a specific biotech, underwriters must take a long-term view of the company and the exposures associated with different stages of product development.

 

An Ounce of Prevention
BioExecutive International

November 2006

Developing relationships with first responders can help life sciences companies keep manageable incidents from becoming costly disasters.

 

Critical Coverage
European Pharmaceutical Contractor
Autumn 2006

The storage of refrigerated stock is a key exposure faced by most contract manufacturing and research organizations. This article discusses how to assess and manage this critical risk.

Global Perspectives on the Life Sciences Industry
Journal of BioLaw & Business
August 2006

This article highlights the latest trends and developments in litigation, regulation, risk management and insurance that are affecting biotech companies worldwide. It includes observations about the insurance needs of biotechnology comapnies in the United States, Canada, Europe, Australia, Asia and Latin America.

Contingency Planning: Preparation is the Key to Recovering from Disasters
Journal of BioLaw & Business
June 2006

Businesses in any industry can reel from the repercussions of electrical outages, fires, computer hackers or the ravages of Mother Nature. When such disruptions occur, these companies may be forced to halt operations for days, weeks or even months. These businesses can and do recover, but in some sectors, like biotechnology, business interruptions that results from such events are potentially catastrophic. This article provides an overview of practicial items that should be consided by all life sciences companies as part of contingency planning.

Risky Business?

European Pharmaceutical Contractor
Autumn 2005

This article by Chris Tait discusses the idea that 'risk' is not always as ominous or random as the word suggests. More often than not, the risks pharmaceutical companies face can be considered, planned for and, in many cases, managed so that business can flourish.

Insuring International Clinical Trials: Navigating the Quirks and Avoiding the Quagmires

Journal of BioLaw & Business
July 2005

The recent enactment of the European Union (EU) directive on human clinical research illustrates the ever-increasing complexity of multi-site clinical research. This article discusses the importance of insurance protection against liability in international clinical trials.

Will Your Firm Be a Victim of Medical Technology Error & Omissions Litigation

Journal of BioLaw & Business
April 2005

This article highlights best risk management practices for companies, with a focus on errors and omissions liability and insurance protection.