The rapid development of the clinical trial industry in China, regardless of the speed of innovation or the degree of competition incentives, pharmaceutical companies involved in clinical trials are facing various risks. At the same time, various regulations mandate that clinical trials require insurance for risk transfer, and more and more sponsors need to focus on searching for insurance providers.
Article 43 of China's Drug Clinical Trial Quality Management Regulations (GCP) clearly states that the sponsor should provide insurance to participants participating in the clinical trial, and bear the cost of treatment and corresponding to the participants who have suffered injury or death related to the trial Economic compensation. The sponsor should provide legal and economic guarantees to the researcher, except those caused by medical malpractice.
Insurance purpose
Drug clinical trial liability insurance is a type of insurance developed to promote the development of new drugs, protect the rights and interests of drug clinical trial participants and ensure their safety.
Insured
The insured refers to an institution that is covered by the insurance contract, has the right to claim insurance, and has the qualification to apply for a clinical drug trial, as stated in the insurance policy. The insured person of this insurance may also include: doctors, nurses, consulting institutions, hospitals, drug testing centers, contract research organizations and drug ethics committees participating in drug clinical trials.
So what can clinical trial liability insurance help you protect?
1. The test drug has a serious adverse reaction
2. Causes third-party personal injury or death
3. Insured's arbitration or litigation costs
Why choose us?
Professional team and rich experience — We have an insurance service team focused on the life science industry, with professional knowledge in medicine, insurance and law, and provide supporting insurance services for various types of life science companies.
Perfect and flexible insurance protection — We provide a set of innovative and perfect risk solutions, and collaborate with customers to tailor insurance and risk management solutions that specifically address their unique risks.
Independent position, customer-centric — As an independent insurance consultant, Yaoda always puts the interests of customers first. With consistent adherence to the life sciences market, in a constantly changing business environment, Yaoda will be your reliable partner.
Outsourcing the whole process, saving time and worry-after signing the confidentiality agreement with the customer, Yaoda provides a series of outsourcing services such as insurance, follow-up, and claims for the customer, making insurance more convenient and faster, and allowing customers to focus on their own Core Business.
Global network service capabilities — Yaoda has service teams in Shanghai and Hong Kong, and we are a member company of WIB GLOBAL (Global Insurance Brokers Alliance) in China. We can provide fast personalized response to the unique global needs of customers, and equip customers with a dedicated global service team, responsible for implementing global solutions and providing excellent insurance services.