ACE launches enhanced clinical trials cover for UK companies
March 23 2015 - 6:27AM
Business Wire
ACE Group today announced the launch of an enhanced clinical
trials liability proposition, which provides life science companies
with specialist insurance for clinical trials programmes conducted
anywhere in the world, as part of its continued strategy to
build dedicated liability insurance solutions for the UK’s fastest
growing industries.
Claire Wilkinson, Life Science
Underwriter, ACE (Photo: Business Wire)
With the need for clinical trials to be initiated and completed
within short timescales, the high number of changes in regulation
and requirements within the UK and overseas as well as the
increasing number of trials ran in emerging territories, it is
imperative that companies have the right insurance cover in
place.
ACE Clinical Trials has been developed in direct response
to these needs, offering timely and compliant cover as well as
flexible solutions equally suitable for single trials and for large
multinational multiple trial programmes. The proposition is
designed with pharmaceutical manufacturers, biotechnology
organisations, medical device and equipment manufacturers, generics
companies and research organisations in mind. It is available for
all phases, all types of patients, all types of disease, all types
of pharmaceutical and biotech products and medical devices.
Benefits of the enhanced cover include:
- Global casualty cover, including for
the US, for UK-based life science companies, through ACE’s network
and team of specialist life science and liability underwriters
- Flexible capacity of up to US$75m
aggregated limit per investigational product
- Local mandatory limits provided as
standard, with the option of a master policy covering difference in
limits
- Locally admitted policies in local
languages
- Certificate issued within five working
days and within 24 hours for a select group of territories and
policy documentation issued within 30 days
- Fronting for large captive clinical
trials programmes available
- Extended indemnity for clinical
research organisations and ethics committees
- Access to specialist expertise from
ACE’s dedicated in-house casualty risk engineering team
Mark Roberts, Casualty Manager, UK & Ireland at ACE, said:
“ACE Clinical Trials is another example of how ACE brings its
specialist expertise and global experience to meet the needs of
businesses. With the experience of Claire Wilkinson, our in-house
clinical trials expert based here in the UK and the strength of the
ACE network of offices in 54 countries, clients can rest assured
that their programmes will be compliant wherever they may be taking
place. Clinical trials are a key stage in the development of
medicinal products and providing compliant cover and quick
turnarounds ultimately benefits both patients and companies.”
- ENDS -
About ACE:
ACE Group is one of the world’s largest multiline property and
casualty insurers. With operations in 54 countries, ACE provides
commercial and personal property and casualty insurance, personal
accident and supplemental health insurance, reinsurance and life
insurance to a diverse group of clients. ACE Limited, the parent
company of the ACE Group, is listed on the New York Stock Exchange
(NYSE: ACE) and is a component of the S&P 500 index.
ACE UK & Ireland’s five regions are:
∙ Ireland (Dublin and Belfast) ∙ Scotland (Glasgow, Aberdeen) ∙
The North (Leeds, Manchester, Newcastle) ∙ Midlands (Birmingham) ∙
London and South East (London, Maidstone, Reading, Watford)
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20150323005410/en/
For further information, please contact:Celine LachevreMarketing
Manager (PR & Events)020 7173
7489Celine.lachevre@acegroup.comOr visit
http://www.acegroup.com/uk-en/brokers/life-sciences.aspx
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