A clinical trials policy covers claims by experimenters or third parties because of damage caused by the trial.
Highlights for clinical trial insurance:
The insurance is mandatory for those who conduct an experiment approved by the Helsinki Committee. The insurance is done according to the local regulations where the trial is taking place.
The policy provides coverage for the entrepreneur/researcher (CRO) and/or the medical institution, and/or those working on behalf of the medical office.
The Tips of Experts:
Make sure that the policy includes a discovery period of six / seven years from the end of the trial. Thus there will be coverage for any claim covered under the policy for seven years from the date of the end of the trial.
When it comes to a clinical trial, it is necessary to make sure that the insurance taken out is in accordance with the local regulation.
Before signing the agreement with the medical institution, it is recommended to submit the agreement to the examination of an attorney/lawyer specializing in the field. Make sure that the policy complies with the requirements of the agreement. There are situations in which the medical institution requests coverage that cannot be provided within the local policies and even beyond what is required according to the procedure of the Ministry of Health.