Clinical Trial Insurance

    HomeClinical Trial Insurance

Get in touch

clinical-insurance

Clinical Trial Insurance

Clinical trial insurance provides protection for the sponsors/organizers of clinical trials for drug and medical device testing, covering their legal liability to pay compensation in the event of an injury to a trial patient. The policy can be a single-trial policy or it may be a multi-trial policy covering several trials of the policyholder.

For the purpose of rating, the most important aspect to look into is the track record of the sponsoring company and others involved in conducting the trial. The company must establish and maintain a policy of adherence to the required clinical trial protocol and must not stray from safety norms.

Fulfillment of informed consent rules must be ensured. Parties to the clinical trial must sign a clinical trial agreement for strict adherence to the protocol and take care of other concerns.

Coverage

single-11

  • Cover for research subject in case of death and /or injury.

  • Provision to pay compensation as per the conditions of compensation in the policy.

  • Cover to the ethics committee (for manslaughter defense costs).

  • Cover can be granted to cover medical expenses as an extension on the policy.

Major Exclusions

  • War and invasion.

  • Radioactivity and nuclear power.

  • Occurrence prior to the retroactive date.

  • Failure of product or drug.

  • Failure to cure or alleviate.

  • Terrorism.

  • Asbestos.

  • Mould.

  • Recall of Product or drug.

  • Claims arising from the production, sale, and provision of certain drugs or products.

Claim Procedure

  • Immediate intimation should be given to the insurance company once it comes to the notice of the insured.