Clinical Trials Insurance
We pride ourselves on our ability to provide complex insurance solutions for Clinical Trials. We do this with speed and accuracy to ensure our clients avoid delays in the Clinical Trial application process.
Clinical Trial Solutions we provide
What is Clinical Trial Insurance?
Clinical Trial Insurance is vital to ensure compensation for participants in case of injuries during trials. Essential for Life Science companies engaged in drug, device, diagnostics, and surgery advancements, this coverage addresses challenges like local regulations and ethics committee requests. It prioritises safety and compensation for potential harm to research subjects.
How we can help you?
As an insurance broker, we play a vital role in Clinical Trials, sourcing coverage that provides ample funding for compensating all Research Subjects. Whether it’s a large global study or a small domestic one, we swiftly access tailored insurance solutions to meet your specific needs.
Why choose us?
We excel in providing essential insurance for Clinical Trials, showcasing the necessary funding to compensate all Research Subjects. Our strength lies in delivering swift and precise solutions, ensuring our clients avoid delays in the application process.
Find out more about how our friendly team can help you!
Our Clinical Trial Insurance ensures your protection and financial security during the trial, providing compensation for any injuries or damages that may occur. It safeguards your well-being and helps navigate potential challenges, offering peace of mind throughout the trial process.
Clinical Trials FAQ’s
Local Regulatory Bodies and Ethics Committees ensure compliance with compensation guidelines for Research Subjects in Clinical Trials. To meet local expectations, Ethics Committees may not accept insurance evidence if compensation can be affected by trials in other countries. Common practice involves Clinical Trial Sponsors obtaining individual country-specific insurance policies for each country in which they conduct the trial, ensuring alignment with local Ethics Committee requirements.
Clinical Trial Sponsors and Research Subjects often establish a formal No-Fault Compensation agreement before a trial begins. In this agreement, sponsors commit to offering compensation to subjects for any injury or damage resulting from their participation, without determining negligence or liability.
- Legal Liability Cover – Insures against injury or damage caused by negligence from the Sponsor or parties conducting the trial on their behalf.
- No-Fault Compensation Cover – Insures against injury or damage to the Research Subject without determining negligence. Compensation is offered based on the terms of a No-Fault Compensation agreement.
Our Clinical Trials Insurance cover is fit for purpose as regulatory bodies recommend minimum compensation levels for Clinical Trial Sponsors. Ethics Committees review insurance during applications to meet local regulatory requirements. Key elements that vary by country include:
- Type of Cover
- No-Fault Compensation
- Legal Liability
- Patient Indemnification
- Limits of Liability
- Extended Reporting Periods
- Legal Costs Inclusive vs Legal Costs in Addition
- Length of Policy Coverage
- Life of Trial
- Annual Renewal
With country-level expertise and global partnerships, we ensure compliance and provide expert advice on evolving regulatory requirements and coverage challenges.