Finding Insurance For Clinical Trials

Many people think that since they are well-covered by life insurance and any other related product, they are safe. But this may not be exactly true in all of the cases. Some of the insurance coverage policies do not include any or all of the patient care costs that are so commonly associated with a paid clinical trial. This is due to the fact that these clinical trials are defined as “experimental” and “investigation” procedures by the insurance companies.

 

Some people also feel that their present insurance coverage may be denied if they undertake such trials. Thus, it is very important that you must consult and seek all type of information before you proceed with undertaking a clinical trial.

 

I suppose the company is liable for all kinds of liabilities?
No, that is not true in all the cases. The company conducting the trial may be covered by the insurance companies for general liability and not for any liability arising from clinical trials. Any company who is desirous of conducting such trials must purchase additional liability insurance that is specifically meant to cover the risks of clinical trials.

 

It is therefore, advisable that you must sign the trial contract after making sure the extent of liability of company and what would be your remedies and protection rights in case of any unforeseeable event.

 

Usually, the following costs are handled by the company conducting the trial:

 

Other Fundamental Trials