What is Clinical Trials Insurance?
Running clinical trials comes with accepted risks, for adverse reactions and lack of response among participants can lead to allegations and lawsuits. Clinical trials insurance may help protect Massachusetts sponsors and administrators of trials from some of these risks.
Clinical trials insurance is highly specialized commercial liability insurance. Like most liability insurance policies, it will normally defray attorney fees, court fees, settlements and judgments arising from covered lawsuits. In most cases, the insurance will begin to pay these costs regardless of the outcome of a suit.
Because clinical trials policies are so specialized, sponsors and administrators should work closely with an insurance agent who knows these policies well when selecting coverage. Someone who’s familiar with the details of these policies will be able to help organizations ensure that they’re well protected.
What Protections Does Clinical Trials Research Insurance Provide?
Clinical trials research policies might offer protection against negligent and against non-negligent harm that participants suffer. Again, the exact protections that a policy extends are determined by that policy’s terms and conditions.