BIO Members

BIO Brings Bottom Line Savings through Combined Member Needs

WGA 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 bioinfo@WGAins.com.

For more information the benefits of being a BIO Member, visit BIO’s website or the Business Solutions website.