What is clinical Trials Insurance?
The Clinical Trials Insurance provides protection for those who conduct clinical trials in respect of claims made against them by the trail participants due to Bodily Damage.
Clinical Trials are potentially dangerous for all parties involved; therefore, Companies are obligated to purchase insurance protection.
The field of medical trials is very common in Israel and all over the world, and reflects from one hand the need of promoting the medicine and science, and from the other hand the need to respect the individual rights and protect the patient rights.
The Israeli law declares that Clinical Trials have to be conducted according to the regulations of Ministry of Health. The regulations require that the Clinical Trials operator arranges the Insurance before the trial begins.
What does the clinical trials insurance covers?
Clinical Trials Insurance covers Companies, investigators, employees, sub-contractors and the medical teams who work on behalf of them, the hospital and/or the fund of research.
ORBIT is working with variety of Insurance Companies in this Area, including solutions provided for World Wide trials, including Local policies if needed.
During the trial, many times it appears that there is a need for Product Liability Insurance. The reason for the need of the policy is that the trials are being done on equipment which already have safety certificates (such as CE), even though there's still the need to continue the trial.