Multiline property and casualty insurer ACE Group has introduced a new clinical trials liability proposition, offering life science companies with specialist insurance for clinical trials programs being carried across the globe.
ACE Clinical Trials has been designed for life science firms, including pharmaceutical manufacturers, biotechnology organisations, medical device and equipment manufacturers, generics companies and research organizations.
The new proposition is applicable for all phases, all types of patients and diseases, in addition to pharmaceutical and biotech products and medical devices.
ACE UK and Ireland casualty manager Mark Roberts 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."
The new product is a global casualty cover available for the US and the UK-based life science companies through ACE’s network and team of specialist life science and liability underwriters.
It is offering a flexible capacity of up to $75m aggregated limit per investigational product and local mandatory limits provided as standard, with the option of a master policy covering difference in limits.
In addition, the product offers extended indemnity for clinical research organisations and ethics committees.
Image: ACE North American headquarters at Philadelphia. Photo: courtesy of William Taufic 2010.