Chubb Named Preferred Insurance Provider for Medical Device Manufacturers
WARREN, NJ, March 23, 2009 - The Medical Device Manufacturers Association (MDMA) has endorsed the Chubb Group of Insurance Companies as the preferred
property and casualty insurance provider for its members. Given the various risk mitigation and other best practices programs
offered by MDMA, MDMA members are eligible for a discount of 10 percent on premium for commercial package policies they purchase
from Chubb.
“Chubb’s life sciences expertise lends itself to uniquely understand the exposures faced by medical device manufacturers,”
said Mark Leahey, executive director of the MDMA. “We are pleased to have established a relationship with this highly regarded
insurer.”
“We look forward to meeting the needs of MDMA’s membership through customized insurance and loss prevention solutions for
clinical trials liability, errors and omissions, products liability and professional liability,” said Philip Fiscus, senior
vice president, Chubb & Son, and worldwide life sciences manager. “We are proud to receive this endorsement of Chubb’s capabilities
from a very dynamic and growing organization.”
According to Leahey, MDMA decided to endorse Chubb based on:
- The insurer’s top financial strength ratings over many decades;
- Its dedicated team of life sciences underwriters, loss control and claims professionals; and
- Its ability to provide insurance products and services that comply with local laws and regulations through more than 120 offices
around the world.
Insurance for MDMA members is available through Chubb’s network of independent agents and brokers. Chubb also provides liability
– as well as property and specialty – coverages to other life science industries, including biotechnology, pharmaceutical,
dietary supplement, drug discovery technology and product development organizations.
The Medical Device Manufacturers Association is a national trade association based in Washington, D.C., representing innovators
and entrepreneurs in the medical device industry. MDMA seeks to improve the quality of patient care by encouraging the development
of new medical technology and fostering the availability of innovative products in the marketplace.
The member insurers of the Chubb Group of Insurance Companies form a multibillion dollar organization providing property and
casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers. Chubb’s global
network includes branches and affiliates throughout North America, Europe, Latin America, Asia and Australia. For more information, visit www.chubb.com.
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