Clinical Trial Liability Insurance
We understand the specialist insurance needs of organisations engaging in clinical trials. We only work with A rated insurer partners who offer clinical trial liability insurance cover that has been designed specifically to meet the challenges you may face.
Clinical trials are a vital part of research and development into medicines and medical solutions that will make a difference to people’s lives around the world.
In England clinical research is growing at a record pace with support from £20.5bn invested to transform service delivery. Since 2012 the total number of clinical trials in the UK averaged 631 per year with over 70% at stage II/III.
By their very nature, clinical trials can be open to a myriad of risks; products may be unsafe, the trial may cause pollution or negligence may occur during the trial.
With four phases to trials, there’s plenty of opportunity for something to go wrong, despite safeguard measures being in place. If you’re involved in clinical trials, you’ll probably be the biotech developing the product or a clinical research organisation providing supporting services. Each organisation has exposure to risk during the clinical trial phase.
Biotech risks in clinical trials can include:
- Actual bodily harm
- Harm from adverse reactions
- Property damage
- Business interruption
- Goods in transit
As the clinical research organisation assisting with patient recruitment, protocol creation or assistance in running the trial the risks you may face include:
- Financial loss if the trial is mismanaged, or generates inaccurate data
- Bodily injury claims
- General liability
- Employer liability
A comprehensive programme will be arrived at following discussions with you about the clinical trial that you are undertaking and the risks that you may be exposed to. Click the following link for a list of the covers that may be included in your clinical trial insurance solution.
Creating an insurance solution to meet the needs of your research and development project will provide you with the peace of mind that if something does go wrong, you will be the best position to deal with any fall out.
Talk to us about your clinical trial liability needs – fill in our short form and we’ll be in touch. A robust insurance solution will protect you and your team, leaving you free to focus on your project. Alternatively you can talk to an expert adviser today by calling 01480 272727 – we will be please to help.