Managed by the SoCalBio Group Purchasing Committee, The SoCalBio Group Purchasing Program is offered only to SoCalBio members based in the Greater Los Angeles/Orange County/Inland Empire/Gold Coast region.

SoCalBio and AON have teamed up under the BIO Business Solutions umbrella to bring comprehensive coverage for Executive Liability Insurance programs. Through this program, SoCalBio 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.
 
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The coverages offered by Aon under the SoCalBio program include:
  • Directors and Officers Liability Insurance
  • Fiduciary Liability Insurance
  • Crime Liability Insurance
  • Employment Practices Liability Insurance
  • Kidnap and Ransom Liability Insurance

Member Benefits

Competitive Pricing

  • SoCalBio members will benefit from multiple carriers competing for their business, without sacrificing coverage or enhancements.

Outstanding Coverage

  • This program has pre-negotiated state-of-the-art coverage enhancements specific for life science companies with expansive and unique wording for members. Examples of some coverage 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

Service Excellence

  • 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.
AON Contacts
 
 

For more information and to be considered as a preferred vendor, please call SoCalBio at 1-800-418-7079 or send an e-mail to scbc@socalbio.org