You’ll need clinical research insurance if you’re testing out a new medical product or device. Supported by leading specialist Insurer Allied World, TrialSelect can offer fully compliant Clinical Trial Liability Insurance in more than 100 countries around the globe, ensuring that your clinical trial runs as smoothly as possible.
To secure customised insurance solutions that address the key risks associated with Clinical Trials, clients require a specialist team with a deep understanding of the processes and challenges faced throughout the life of a Clinical Trial. At TrialSelect, we possess a vast wealth of experience in insuring Clinical Trials, and have the expertise necessary to offer clients the bespoke clinical trial insurance coverage they need.
If your company is testing out a new medical product, you will need to invest in clinical trial liability insurance, which is also known as clinical research liability insurance. This ensures that all participants are protected from legal and non-fault harm, should anyone get hurt as a result of the trial. We’ll be sure to find solutions that cover legal defence costs and compensation payouts, too.
This insurance coverage is a regulatory requirement for all clinical trials and is an extremely essential part of any medical research programme.
You will receive coverage for the following areas:
Clinical trial liability insurance can also cover single trials and multiple trials in both the UK and abroad.
Our team attends events all over the country to advise on Medical Indemnity insurance and share valuable risk management insights. Please click here to view our presentation at BASS 2022 on How to Reduce Medico-Legal Claims in Spinal Surgery (and a few words about the GMC). Although this was aimed at Spine Surgeons, the advice is relevant to all specialties.
Alongside offering bespoke insurance solutions, we also offer many other benefits, including:
What is clinical trial insurance?
Clinical trial insurance includes any injuries participants may succumb to during a clinical trial. It provides your clinical trial with coverage that protects your sponsors, researchers and participants from liabilities and any risks that may come from clinical trials.
Why is clinical trial insurance necessary?
Yes, clinical trial insurance is necessary. It ensures that you’re provided with financial protection against any claims of injury or errors made. Clinical trial insurance also ensures there’s compliance with any relevant regulations and ethical standards that need to be met.
Who needs clinical trial insurance?
There are many different types of companies and organisations that need clinical trial insurance, such as:
What does clinical trial insurance cover?
Clinical trial insurance includes coverage of legal defence costs, third-party liability, any expenses related to trial cancellations or delays, or any compensation for participants who have been injured.
Are there any exclusions in clinical trial insurance?
Yes, there are exclusions in clinical trial insurance, such as any fraudulent activities or gross negligence, trials conducted outside the approved jurisdiction, any known risks not disclosed to any participants, or claims arising from non-compliance with regulations.
Is clinical trial insurance mandatory?
In most countries, clinical trial insurance is a regulatory requirement. There needs to be proof of coverage provided before any trials commence, especially medical device and drug testing.
Our FAQ section might not have the answer you’re looking for right now but our team certainly will. If you need answers, contact us
Medico Legal Consultant
Michael is a dual qualified doctor and lawyer, with over 20 years’ medico-legal experience. Having practiced as a GP, Michael requalified as a lawyer in New South Wales, where he regularly acted in personal injury and clinical negligence cases, disciplinary matters and cases involving defective medical devices. Michael worked for the Medical Defence Union and Marketform as a Senior Medical Claims Handler where he was responsible for a variety of complex and high value claims.
Admitted to practise as a solicitor in NSW, England & Wales and a registered medical practitioner with the NSW Medical Board and GMC, Michael has been advising and supporting Incision members since January 2015.
Business Development Consultant
In 2016, Andy was invited to work with Paragon’s Healthcare and Life Science team as a Business Development Consultant for the Incision Indemnity scheme. His in-depth understanding of Medical Indemnity includes occurrence- based and claims made insurance.
Andy is a highly-motivated and energetic individual who brings over 20 years’ experience working in the Healthcare and Life Science sector. Having started his career in the pharmaceutical and medical device market, Andy went on to work for Bupa as a Commissioning Manager before making his move into the Medical Indemnity market.
Senior Account Executive
Alistair joined Paragon in 2010 and is responsible for all technical aspects of Paragon’s Healthcare and Life Science clients. This includes providing detailed review and analysis of coverage, programme structures and drafting of manuscript wordings to assist in the initial placement of risks. Following the placement of the programme, he supervises and co-ordinates premium payments, tax allocation, policy production and other servicing of the individual accounts, including ongoing analysis of coverage and troubleshooting. Alistair is also involved in the placement aspects of the individual accounts.
Claims Account Executive
Alex joined Paragon as a Trainee Claims Technician in 2010. Spending the first couple of years learning the trade, Alex gained valuable experience in a range of specialisms, including Healthcare, Lawyers Professional Liability and Architects & Engineers Professional Liability.
Promoted to Claims Account Executive in 2013, Alex began to focus on the medical world and in 2015 took the lead role in Healthcare Claims at Paragon. Over the past six years, Alex has developed relationships with insurers in the London market and with solicitor firms that specialise in the defence of medical malpractice claims. This has helped to ensure that clients secure the best possible representation when necessary.
Clinical Trials Liability Insurance The significance of clinical trials, in forging ground-breaking treatments and therapies, is often undervalued. For healthcare professionals in the UK, who navigate the nuances of clinical trials, the quest for progress is intrinsically linked to the…
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Extending far beyond our comprehensive coverage, Incision provides all members with a wealth of risk management material, educational resources and 24/7 in-house medico-legal support.
