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Product Liability for Life Sciences Companies

ת. פרסום: אפריל 2011

From: Kizhner Yuri – Director of Special Risks Department Orbit (Reshef Ins Agency)

MEDICAL PRODUCT LIABILITY POLICY HIGHLIGHTS Product Liability Insurance policies for Medical Technology and Life Sciences Areas adapted for Industry's special needs. The policy form covers legal liability arising out of Bodily Injury and

Property Damage caused by the insured’s products and work and includes the following:

Who is Insured: The Company, “executive officers” and “directors”, but only with respect to their duties as your “executive officers” or “directors”, Employees and Volunteer Workers (but only for acts within the scope of their employment by you or while performing duties related to the conduct of your business. This includes your field or sales representatives and service technicians providing technical expertise, product training and sales support to existing and prospective customers within or outside of health care facilities).

Additional Insured Coverage. The policy provides coverage for a wide spectrum of organizations and people with which the insured works, including: Vendors, Scientific Advisory Boards, Sales Representatives, Clinical Research Organizations, Clinical Research Coordinators, Monitors or Investigators, Investigational Review Boards or Medical Ethics Committees, Independent Engineers or Consultants, Medical Staff Members.

Professional Services for Medical Products Sales and Service Personnel. The company’s field, sales and service representatives who provide technical expertise, product training and sales support in connection with the sale, loan, lease or delivery of their products are insured. Medical staff members are insured for liability arising from their providing or failing to provide supervisory or instructional services.

Worldwide Coverage. Coverage for claims around the world, except where the U.S. government has prohibited or suspended trade relations.

Automatic Coverage for Clinical Trials. Clinical trial coverage is automatically included under the policy. Notification of new trials starting during the policy period is not required and there is no additional charge.

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