Executive Liability Insurance

Transcription

1 Aon Risk Solutions Financial Services Group Life Sciences Industry Practice Executive Liability Insurance Solutions from Experts in the Life Sciences Industry

2 Challenges on the Rise for Life Sciences Companies Life Sciences companies face a growing number of unique and complex risks in areas such as products liability and clinical trials, directors and officers exposure, and supply chain liability. Today s organizations need comprehensive risk mitigation solutions at every development stage - from initial discovery phase to final product launch and beyond. Securities class action lawsuits and other litigation filed by shareholders and competitors add a new level of complexity and risk. The regulatory environment presents even more complex and costly exposures. Whether companies are sued for discrimination, harassment, retaliation, or other reasons; employmentrelated lawsuits continue to be a large source of loss. Product-related lawsuits are also increasing, including Phase II and Phase III lawsuits, as well as, litigation involving off-label use of approved products. Cyber attacks on healthcarerelated companies are growing in strength, sophistication and frequency.

3 Solutions Across the Life Cycle Continuum 69,000 Number of Aon colleagues around the world Beauty in Numbers 500 Number of global offices Aon Risk Solutions is the worldwide leader in risk advice and insurance broking. Guided by the Aon Client Promise, our teams help clients achieve profit, growth and continuity by delivering the best tailored and innovative risk solutions. Based on deep industry knowledge and years of experience, Aon Risk Solutions Life Sciences Practice offers a range of risk management solutions. Aon designs coverage to address specific industry requirements including market trends and pricing, contract language, individual market risk appetites and how the Life Sciences industry views risk. As a result, Aon professionals can provide Life Sciences companies with industry-specific solutions that offer the following advantages and benefits: A flexible, customized approach for each individual client Global reach and presence in every region and market in the world Adherence to industry best practices and the ability to replicate successful risk management strategies Use of key benchmarking and actuarial analytics to support decision-making for program structures such as limits, retentions and pricing Access to top-level executive underwriters at leading Life Sciences insurance companies A seasoned team of attorneys to offer proven claims advocacy expertise in large product-liability class action and securities class action litigation Now we have partnered with the Biotechnology Industry Organization (BIO) to offer today s Life Sciences companies a range of innovative executive liability solutions supporting you at every stage of product development, testing, regulatory review and launch. 120 Number of countries in which Aon operates usd 12 billion Total revenue generated by Aon in 2014

4 The BIO Executive Liability Protection Panel Providing More Value for BIO Members The BIO Executive Liability Protection Panel delivers value for both public and private Life Sciences companies. Through the Panel, BIO members can develop flexible, cost-effective programs in the following areas: Directors and Officers Liability Insurance Fiduciary Liability Insurance Employment Practices Liability Insurance Kidnap and Ransom Liability Insurance Crime Liability Insurance Insurance Market Life Science Partners Private Private & Public Public Side A Bermuda Aon s Leadership in Life Sciences More than 400 Life Sciences clients 70% of the AMEX Biotechnology Index 9 of the top 10 largest biotech companies 6 of the top 10 largest pharmaceutical companies 3 of the top 5 clinical research organizations

5 Advantages with Aon BIO members can benefit in three ways from the BIO Executive Liability Protection Panel and Aon s industry leadership, expertise and global footprint: Competitive Pricing Competitive quotes are available to BIO members through the BIO Executive Liability Protection Panel. Aon has a clear understanding of insurance market trends and pricing specific to Life Sciences, helping to ensure the best terms for individual companies in alignment with their market risk appetites. Service Excellence Aon takes a proactive approach in assisting clients with risk management throughout their growth cycles. We are experts in policy negotiations and stay up to date on new developments in regulatory and case law. We also provide trend analysis and financial modeling capabilities that are backed by an unmatched dedication to service. Our seasoned legal team has extensive life sciences experience and offers proven claims advocacy expertise in all types of litigation or regulatory events, including complex securities class action litigation, derivative litigation and regulatory investigations. Outstanding Coverage We provide pre-negotiated, state-ofthe-art coverage enhancements that have been developed specifically for life science companies. Aon clients can also take advantage of Aon-negotiated policy language, including exclusive wording for BIO members. In addition, Aon provides access to executive underwriters at the key global life sciences insurance companies, as well as benchmarking information regarding limits, retentions and pricing to support decision making for program development. Recent Awards and Recognition Risk & Insurance magazine named 55 Aon brokers and consultants to their 2015 Power Brokers list. Aon Risk Solutions was recognized as 2013 Best Global Insurance Broker by Global Finance magazine. Reactions magazine named Aon 2014 Best Insurance and Reinsurance Broker for North America and Aon president and CEO Greg Case Insurance Broking CEO of the Year.

6 To Learn More Aon professionals can provide your organization with the experience, tools and deep industry expertise required to maintain a competitive edge in today s markets. Contact the following representatives for a complimentary policy review and audit and to learn more about Aon s specialized solutions for the Life Sciences industry. Kristin Kraeger, Esq. Managing Director Aon Risk Solutions Financial Services Group O: M: [email protected] James Walters Managing Director Aon Risk Solutions Life Sciences & Chemicals Group O: M: [email protected]

7 Aon plc (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 69,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world s best broker, best insurance intermediary, best reinsurance intermediary, best captives manager, and best employee benefits consulting firm by multiple industry sources. Visit aon.com for more information on Aon and aon.com/ manchesterunited to learn about Aon s global partnership with Manchester United. Aon plc All rights reserved. The information contained herein and the statements expressed are of a general nature and are not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information and use sources we consider reliable, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. Risk. Reinsurance. Human Resources.