The risks associated with life sciences are sophisticated and continually changing – making the complexity of those exposures often overwhelming for clients. Our professionals have years of experience and an in-depth understanding of the intricacies involved – allowing them to make your company more appealing to the insurance marketplace.
AHT BRIDGES THE GAP
There is no “one size fits all” policy that will provide the protection life sciences organizations require. AHT’s team examines every client’s needs on an individual basis to design and implement the appropriate program — from product and clinical trial liability to intricate international programs.
Clinical research organizations and site research organizations have unique exposures that often span many different types of insurance policies. Gaps often exist between premise liability, products liability, clinical trials liability, excess liability and professional liability policies. For example, some of these policies are written on a “claims made basis” while others are written on an “occurrence basis” — each, in turn, lend to different triggering mechanisms. Our practice includes a formal gap analysis and coordination of the program that reduces the total cost of risk.
DID YOU KNOW?
AHT has been ranked in the top ten for D&O policies written since 1994 by Tillinghast Towers Perrin. Our clout in the market and understanding of the policy wordings help AHT negotiate favorable terms at favorable cost.
AHT gives its clients a complete and unbiased look at the insurance markets. We typically handle 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. Starting with regulatory bodies, right down to vendors, hospitals, investigators and third-party manufacturers. AHT understands these contractual relationships and helps our clients navigate insurance and indemnification agreements.
As an AHT client, we’ll provide you with an in-house claims manager who will facilitate the claims process and work as an advocate on your behalf.
PRODUCTS & SERVICES
Management Liability Insurance
- Directors & officers liability
- Employment practices liability
- Fiduciary coverage
- Temperature change and spoilage
Pollution and Radioactivity Liability Insurance
Intellectual Property Liability Insurance
Global Insurance Programs
Products Liability Insurance
Clinical Trial Liability
AHT worked with a client to flowchart their outsourced manufacturing process and developed a stock throughput policy that included coverage during the manufacturing process, increasing values from replacement cost to selling price all along the way — air freight, storage and business income.
LIFE SCIENCES PRACTICE LEADER
Senior Vice President, Shareholder, Member of the Board & Technology Practice Leader