Clinical trials refer to scientific tests and treatments experimented on people to understand the efficacy of a medicine or medication. The clinical trial insurance cost varies basis the type of insurance coverage you choose to purchase to give the trials you conduct a shield of security. Depending on the phase of clinical trial, the intensity of it and the nature of the trial in all propensity, is covered under the policy guidelines of the clinical trial liability insurance.

  • Why you need the policy: Given the complexity, urgency, and specific risks involved in every stage of a clinical trial it is advisable to have this policy coverage in hand. Depending on the depth of trials and based on the magnitude or the nature of the trial, you should look for a policy that supports the underwriting of trials, throughout all phases of a trial.
  • Who should buy: Clinical trials insurance solutions provide protection to 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 participant.
  • What the policy offers: Clinical trial liability insurance covers clinical tests on pharmaceutical products and medical devices before they are brought onto the market.

As a liability policy we offer coverage for all phases of clinical trials for drugs and medical devices. We also offer coverage for non-compulsory studies arising from negligent harm to trial participants or non-negligent harm (also known as no-fault compensation). So, before you decide to undertake a trial, it is advisable to weigh the pros and cons and give the same a proper thought. Once the methodology, plan, and other aspects are brought to light, then you can approach an expert and get your trial a coverage and make it legally official and safeguarded.

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