Chubb Insurance Company Limited (“Chubb China”) today announced that it will offer up to 100 million yuan in clinical trial liability insurance protection on a pro bono basis to qualified domestic medical research and development entities to promote the rapid development of drugs and/or vaccines to fight the outbreak of novel coronavirus (2019-nCoV) first reported from Wuhan, China on 31 December 2019.
Chubb’s human clinical trial liability insurance provides cover to third parties’ bodily injury caused by any negligence and/or defect in the trial and related activities, such as the protocol, informed consent form, testing drug, or combination drug during the clinical trial process. Chubb’s pro bono support is targeted to domestic research and development institutions, enterprises and clinical trial centers that have obtained permission to sponsor the human clinical trials to develop the drug to treat new coronavirus infection pneumonia in the territory of People's Republic of China. Human Clinical Trial protocol and informed consent form are required to apply for this insurance product. Chubb’s human clinical trial liability insurance provides cover to third parties’ bodily injury caused by any negligence and / or defect in the trial and related activities such as the protocol, informed consent form, testing drug, or combination drug during the clinical trial process (detail terms and conditions subject to the policy wording). Target insured includes all domestic research and development institutions, enterprises and clinical trial centers that have obtained permission to sponsor the human clinical trials to develop the drug to treat new coronavirus infection pneumonia in the territory of People's Republic of China. Human Clinical Trial protocol and informed consent form are required to apply for this insurance product.
Please contact Ms. Chen for details: jessie-jc.chen@chubb.com.
Chubb will monitor the development of the antiviral drug and vaccine research and may provide more support in the rapidly developing situation as conditions warrant.
Chubb China has been quickly reacting to the outbreak of the new coronavirus. Customer service quality and employee safety have been prioritized. Emergency plans were activated immediately, together with the launch of a claims response and priority claims policy to clients.
About Chubb in China
Chubb's history in China dates back to 1792 when a legacy company – the Insurance Company of North America (INA) – began providing protection to the pioneers of trade between the United States and China. In 1897, INA appointed an agent in Shanghai and started to officially conduct business in China. Today, Chubb is proud to have participated in over 200 years of U.S.-China relations and views China as one of its most significant long-term opportunities. The company looks forward to expanding its presence in China and making further contributions to the development of its insurance industry.
About Chubb
Chubb is the world's largest publicly traded property and casualty insurance company. 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 more than 30,000 people worldwide. Additional information can be found at: www.chubb.com.