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Chubb WORLDcert Now Expedites Clinical Trials in Italy, Poland, South Africa and Turkey

WARREN, NJ, June 16, 2011 --Life sciences companies can now help avoid costly delays in human clinical trials in Italy, Poland, South Africa and Turkey due to a lack of timely, accurate issuance of insurance documentation. The Chubb Group of Insurance Companies has added these four countries to WORLDcert, a proprietary online system that instantly generates certificates of insurance in 152 countries.

Launched in July 2010, WORLDcert enables drug and medical device developers and clinical research organizations to obtain certificates of insurance, which are reviewed by medical institutions’ ethics committees before allowing clinical trials to begin. The system eliminates the need for an insurance agent or broker to communicate trial information to an insurance company and for the insurer to complete manually intensive processes. If a certificate of insurance is inaccurate, incomplete or not available, an ethics committee may withhold its approval for months, thereby potentially delaying the introduction of a life-saving or life-extending therapy to the market and shortening the time frame during which a life sciences company enjoys patent exclusivity.

In March 2011, Chubb received an Innovation Award from Business Insurance magazine based on WORLDcert’s originality in serving the needs of professional risk managers and effectiveness in solving problems in the risk management process of identifying, assessing and analyzing risk.

“We are excited to extend WORLDcert’s capabilities to these four countries, where more than 8,000 human trials are under way, and look forward to rolling out the system elsewhere,” said Frank Goudsmit, vice president and life sciences international manager, Chubb Commercial Insurance.

Member insurers of the Chubb Group of Insurance Companies form a multi-billion dollar organization providing property and casualty insurance for personal and commercial customers through 8,500 independent agents and brokers worldwide. Chubb's global network includes branches and affiliates throughout North America, Europe, Latin America, Asia and Australia.  Additional information on Chubb can be found at www.chubb.com.