BIO Brings Bottom Line Savings through
Combined Member Needs
William Gallagher Associates is the lead broker for risk management programs to
Biotechnology Industry Organization (BIO) members. These programs include Property
and Casualty insurance, Product and Professional Liability, as well as Directors'
and Officers' Liability.
BIO members can expect both comprehensive coverages and substantial savings in many
areas of their business insurance needs. WGA, in conjunction with BIO, developed
these programs to address these specific critical lines of business insurance for
members:
Directors & Officers Liability
This Program is underwritten by Monitor Liability Managers. The features of this
program include:
- 7.5% no-claims policy renewal credit
- Pre-negotiated, standard coverage terms for members
- Very competitive premiums for companies at all stages
- Low minimum premiums for early stage companies
- Loss control services, including the design of insider trading and corporate communication
policies
- Significant experience underwriting biotech companies
Product/Clinical Trials Liability
and Property & Casualty Insurance
This program is underwritten by Chubb Group. Coverage is available for clinical
trials and product sales both in the US and around the world.
The Property & Casualty program is also underwritten by Chubb Group, offering the
broadest coverage for biotechnology firms. BIO Member benefits include:
- Very competitive premiums for companies at all stages
- Low minimum premiums for early stage companies
- Dedicated loss control and claims specialists for BIO members
- Use of proprietary Chubb software for determining business interruption limits
- Devoted underwriting teams providing five-day turnaround for BIO members
WGA's Chairman and CEO, Philip Edmundson noted, "Biotech companies have a particular
need for expert risk management advice and insurance policies designed to meet their
unique exposures. By working closely with BIO, we fulfill its members' needs in
these areas. I am honored that BIO selected WGA to develop these programs. Given
our experience working with over 400 biotechnology firms, we can deliver comprehensive,
extremely competitively priced insurance programs to companies at all stages of
development, from the newest start-up to the largest multi-national."
For more information about the BIO program, call the BIORISK program phone line at 1-888-4BIORISK, or email .
For more information the benefits of being a BIO Member, visit
BIO’s website or the Business
Solutions website.