Cost Savings – Insurance

BioMedSA is part of a nationwide network of similar organizations who leverage their members’ purchasing volume to pre-negotiate cost savings contracts with key suppliers. These pre-negotiated contracts are available to all BioMedSA members.

Chubb provides cost-effective risk management and insurance protection tailored to the needs of life science companies. Chubb’s products include property and casualty, product liability, clinical trial liability, errors and omissions liability, professional liability, and cyber liability insurance. They offer low minimum premiums for early stage companies and all BioMedSA members receive a 10% premium credit (subject to regulatory limitations).

Aon offers comprehensive coverage for executive Liability and Cyber Insurance. Aon works with several insurance carriers to deliver competitive insurance solutions with distinctive value to life science companies. Members benefit from competitive bids, without sacrificing coverage. Claims are handled by attorneys and claims professionals with significant experience in life science.

Mercer offers group health insurance programs to small employers (typically 5-50 employees) through United Healthcare, including Health, Dental, Vision, and Basic Employee Life/AD&D coverage. With a focus on smaller companies, they use an online enrollment process, optimized benefits management, and reduced administrative costs.



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