Clinical trials play a vital role in advancing medical science, helping to develop new treatments, pharmaceuticals, and medical devices. However, these trials also carry significant risks, including potential harm to participants and legal liabilities for sponsors. Clinical Trial Insurance provides essential protection against claims arising from injuries, legal disputes, and product-related risks during the trial process.
At Hastings Insurance, we specialise in tailored Clinical Trial Insurance solutions, ensuring sponsors, researchers, and institutions are financially protected while complying with international regulatory requirements.
When a participant agrees to take part in a clinical trial, they place trust in the sponsor to ensure their safety. If an adverse reaction occurs, they have the right to seek compensation, and as the trial sponsor, you could be held liable. Clinical Trial Insurance provides financial protection against legal claims arising from negligence, lack of care, or unforeseen complications during the trial.
This insurance is typically arranged as a one-off policy, covering the sponsor for the entire duration of the trial. However, policies can be extended or structured into longer-term programs if needed.
Clinical Trial Insurance is typically written on a “claims-made” basis, both during the trial and when a claim is made. Extensions to the notification period may be vailable and should be carefully considered.
Many jurisdictions require insurance certificates in their local language. Not all insurers can issue locally admitted policies, but our experienced team can guide you through this process smoothly.
The policy limit applies across all participants, meaning multiple claims may erode the . Ensure you select an adequate limit.
Some countries mandate specific minimum cover per patient, meaning you may not have a choice in the level of cover required.
We have an experienced team with deep knowledge of the Insurance market and can tailor policies to your needs.
We work with leading insurers in Ireland and Internationally to secure competitive cover and we tailor every policy is to match your specific needs.
With a reputation for reliability, we work with top insurers to provide you with high-quality coverage and support.
Conducting a clinical trial comes with significant responsibilities and risks. At Hastings Insurance, we provide specialist Clinical Trial Insurance solutions to ensure that sponsors, researchers, and participants are protected against unforeseen complications. Contact us today to discuss your clinical trial insurance needs and receive a tailored solution.
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