- Bespoke cover for company assets and third-party liability protection.
- Targeted at businesses that provide technology solutions, products and services for the healthcare and life sciences industries.
LONDON, March 27, 2024 /PRNewswire/ -- Chubb today announced the launch of a new HealthTech industry practice in the UK.
The new practice, which brings together Chubb underwriters, risk engineers and claims specialists who have deep industry knowledge, will offer bespoke insurance coverages that provide protection for both company assets and third-party liabilities. The HealthTech practice will serve all types of companies - from start-ups to established firms - that provide technology for use in healthcare services, research environments and related professional services. This includes the creation, distribution, licensing, development or integration of software for these industries.
The practice builds on Chubb's extensive experience meeting the coverage needs of HealthTech companies through its Life Sciences and Technology industry practices. The new offering includes property damage, business interruption, terrorism, employers' liability and cyber, along with liability protection for claims for bodily injury, products and services, professional indemnity, intellectual property and corporate reputational injury. All covers are optional and can be tailored to suit each client.
Chubb's HealthTech Industry Practice will be overseen by Louise Joyce, Head of Industry Practices for EMEA, with Victoria D'Silva, Life Science Practice Leader for UK & Ireland, heading a bespoke underwriting team.
Louise Joyce said: "We have been providing coverage for HealthTech clients for many years. Our new offering has been designed specifically to meet the needs of companies operating in this fast-moving sector and provides a range of cover in one flexible package that can be arranged online in just a few clicks through Chubb Ignite."
Victoria D'Silva said: "HealthTech firms are complex and face myriad exposures that require a specialist policy to avoid gaps in cover. Our product includes a range of first- and third-party covers that are integrated together to ensure that even in claims with multiple types of injuries and causes, there is certainty cover will respond within the scope of the policy wording."
Brokers can access immediate cover for their HealthTech clients through Chubb's digital platform, Chubb Ignite.
The HealthTech offering, which will be part of the insurer's broader Life Sciences Industry Practice, joins other Chubb industry practices in the UK, including Real Estate, Technology and Media, and Climate Tech. Chubb's industry practices are underpinned by the company's global capabilities, local presence and deep industry experience.
About Chubb
Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 40,000 people worldwide. Additional information can be found at: www.chubb.com.
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