Aon Risk Solutions
BIO and Aon have teamed up to bring comprehensive coverage for Executive Liability Insurance programs. Aon has undertaken an extensive request for proposal process to vet and select an elite group of insurers based on their ability to deliver distinctive value to life sciences clients. Through the BIO Executive Liability Protection Panel, BIO members can access and benefit from expansive coverage of offerings, and competitive pricing, utilizing broad Aon-negotiated policy language, along with a unique array of defined services, all designed to enhance program efficiency and effectiveness through these reputed insurance carriers.
The coverages offered by Aon under the BIO program include:
• Directors and Officers Liability Insurance
• Fiduciary Liability Insurance
• Crime Liability Insurance
• Employment Practices Liability Insurance
• Kidnap and Ransom Liability Insurance
• Members will benefit from multiple carriers competing for their business, without sacrificing coverages or enhancements.
• BIO has pre-negotiated state-of-the-art coverage enhancements specific for life science companies with expansive and unique wording for members. Examples of some coverages are as below.
• Expansive Claim coverage, including all forms of alternative dispute resolution and investigations to include express language for FDA proceedings and foreign equivalent
• Coverage for Procedural Event Study Expenses subject to no Retention
• Express coverage for Advisory Board members and Scientific Advisory Board members
• Broadest coverage offering of Side A grants in Bermuda market
• Superior claims handling by experienced attorneys and claims professionals with extensive life science experience
• Managed by dedicated Life Sciences Group within Aon
• Trend analysis and financial modeling capabilities with benchmarking specific to the life science industry
• Industry-leading global resources, technical expertise and industry knowledge are delivered locally through more than 500 offices in more than 120 countries.
Eligible Biotech Associations
In addition to members of BIO, members of the following state and regional biotech associations can take advantage of this program: