The policy covers legal liability emanating from negligence resulting in bodily injury or death of a contributor in a Clinical Trial. This highly specialised policy is normally taken by the analytical laboratories carrying out such trails or the sponsors of the trial and is sometimes taken by the pharmaceutical companies themselves. The liability arises if the experiment with the drug on trial goes wrong and the voluntary participants suffer injuries or death. Even though consent is usually taken from the voluntary participants, yet the liability always remains.
Scope of our Services
There are a few insurance companies that have this product and subject matter of this product are few. Moreover, given the complex nature of the product and sometimes a very high level of indemnifications required, this type of policy requires an in-depth analysis of the protocols and other documentation of the clinical trial.
At zoom insurance, our specialists understand all the details of the clinical trial and design coverage that covers all phases of a clinical trial for drugs and medical devices as well as non-compulsory studies arising from negligent harm or non-negligent harm to participants also called “No-fault Compensation”.
Zoom insurance brokers through their excellent relationships with the insurers can provide the best possible customized covers and the appropriate premium cost.