AHT & MASON AHT’S LIFE SCIENCES PRACTICE
The Life Science Industry helps improve the quality of life and define what the proper standard of living is. However, in this quest for breakthroughs in the medical field and success in a market with varying conditions, life science companies leave themselves vulnerable to risk and require strong insurance solutions.
MANAGING YOUR UNIQUE RISKS
From pharmaceutical manufacturers and contract research organizations to biotechnology companies and medical device manufacturers – we have deep expertise and trusted partners to help your company properly manage its risks and make your company more appealing to the insurance marketplace.
Our Core Insurance Offerings Include:
Supply Chain Management
Worldwide Clinical Trial Liability
IP Related Issues
Pollution and Radioactive Liability Insurance
Directors & Officers Liability
Supply Chain Management
Let’s Talk about Your Needs
With stringent documentation requirements, ever changing market conditions, demanding clinical trials and constant pressure for innovation, succeeding as a life science company is far from simple. While these risks may present themselves as colossal, AHT and AHT Mason’s experience, coupled with tailored risk management techniques protect your company and allow it to prosper.
We give clients a complete and unbiased look at the insurance markets — typically handling our business direct, without the use of wholesalers. Not only does this approach eliminate the additional fees associated with wholesalers, but it also improves communication with underwriters and ultimately improves cost. Contract negotiation issues are critical for contract research facilities. Our life sciences professionals will facilitate meetings with underwriters and their contract specialists to improve the turnaround for these issues.
AHT implements best practices for clinical trials, professional services, contracts, safety surveillance, sales and marketing and risk management and loss control. The rewards of this process are more effective defense, preservation of reputation and minimized distractions to management. From an insurance perspective, higher limits are often more readily available and terms and conditions are improved. This overall approach reduces insurance premiums for our clients.
There are often many third parties that have a say in how you do business, from regulatory bodies to vendors, hospitals, investigators and third-party manufacturers. AHT understands these contractual relationships and helps our clients navigate insurance and indemnification agreements. We’ll provide you with an in-house claims manager who will facilitate the claims process and work as an advocate on your behalf.
Clinical Trials Liability
As a critical yet complex form of insurance, Clinical Trial Liability is a necessity in the clinical research process. While extensive preparation and thorough research may present a trial as foolproof, clinical trials still present the risk of bodily injury as well as overarching financial and reputational risk.
Life Science companies also have a unique risk evolution and the insurance response grows more complex as the product nears completion. From the R&D lab to Phase 1, 2, 3 to regulatory approval to product launch – we are there to assist your organization and provide tailored risk management services throughout.
AHT is partnered with TechAssure – the international network of technology-related risk experts. Through this partnership, we are able to align your clinical trials insurance program with trusted partners throughout the world.
Top-Tier Carrier Partners
Insuring clinical trials is not easy and not all companies provide an end-to-end solution. We partner with the leading carriers in the space and have access to senior level underwriters and executives to assist in best-in-class program design.