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Chubb Named Preferred Insurance Provider for Medical Device Manufacturers
Date:3/23/2009

WARREN, N.J., March 23 /PRNewswire-USNewswire/ -- The Medical Device Manufacturers Association (MDMA) has endorsed the Chubb Group of Insurance Companies as the preferred insurance provider for its members. A premium discount of 10 percent is available to MDMA members.

(Logo: http://www.newscom.com/cgi-bin/prnh/20041004/MDMALOGO)

"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.

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SOURCE Medical Device Manufacturers Association
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