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PSYCHEDELICS INSURANCE

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Expertly Designed Coverage that Evolves in Lockstep with Advancements in Psychedelic-Assisted Therapy 

 

Insurance is already a complex, constantly evolving industry, but add in the new, rapidly changing developments in psychedelics for clinical use, and working with an experienced professional to help you navigate this space becomes essential. AHT’s professionals have immersed themselves into the psychedelics risk landscape since this ground-breaking therapy became a fierce topic in healthcare.

The race is on as clinical trials continue to progress and companies begin to seek FDA approval for clinical use of psychedelics in the treatment of PTSD, traumatic brain injury, mental disorders, and the effects of domestic abuse. This means the race is also on to put the proper coverage in place to protect the companies and people involved in getting this breakthrough therapy to market.

After decades of demonization and criminalization, psychedelic drugs are on the cusp of entering mainstream psychiatry, with profound implications for a field that in recent decades has seen few pharmacological advancements for the treatment of mental disorders and addiction.

Andrew Jacobs

The New York Times

PROTECTING YOUR MOST CHALLENGING EXPOSURES

While life science companies continue to undergo clinical trials for the use of drugs, such as methylenedioxy-methamphetamine (MDMA) and psilocybin, for psychedelic-assisted therapy (PAT), insurance professionals are preparing for managing the risks and identifying the proper coverage as these new treatments hit the healthcare system.

The exposures facing the companies and people involved in psychedelics research are some of the toughest to navigate and cover from an insurance perspective. Our professionals design customized programs to manage these highly challenging risks and protect those overseeing the clinical trials. Contact us to talk about insurance for psychedelics.

Examples of the most essential coverages include:

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General Liability

Protect your company from third-party claims of bodily injury resulting in the use of psychedelic drugs for treatment of mental disorders and complex trauma.

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Professional Liability

Protect the service providers, clinicians, therapists, etc., administering psychedelic-assisted therapy if a negligence claim is made by a patient.

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Umbrella

Put an umbrella policy in place to cover gaps and the undoubtedly unique risks posed by this potentially breakthrough treatment.

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Global Programs

Put coverage in place for international exposures facing clients administering clinical trials around the world.

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Product Liability

Defend your company against drug-related product liability claims – defectively manufactured pharmaceutical drugs, those with dangerous side effects or that are improperly marketed.

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Cyber

Retain proper cyber insurance to protect your company. With major advancements in healthcare and pharmaceuticals, companies become easy and highly vulnerable targets for cyberattacks.

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Directors & Officers Liability

Protect the professionals who are overseeing the clinical trials in the event they are sued by participants or family members.

PROTECTING THE FRONT LINES

Hospitals & Healthcare Facilities

Psychedelics Associations

Companies Administering Clinical Trials

Manufacturers

Clinicians & Therapists

ARTICLES & RESOURCES

MDMA-assisted therapy for severe PTSD: a randomized, double-blind, placebo-controlled phase 3 study

The results from the first of two MAPS-sponsored Phase 3 clinical trials for MDMA-assisted therapy for PTSD were statistically significant. The full results have been published. Phase 3 is the final stage before seeking FDA approval for a new prescription treatment.

If successful, this treatment could transform the lives of millions of people who live with the impacts of complex trauma.

Multidisciplinary Association for Psychedelic Studies (MAPS)

MAPS, a leader in psychedelic research, since 1986 is on a mission to create safe and legal opportunities for the uses of psychedelics in society.

“Psychedelics, when used wisely, have the potential to heal us, help inspire us, and perhaps even save us.”

—Rick Doblin, Ph.D., MAPS Founder and Executive Director

World Boxing Council, Wesana Health Partnering To Examine Psychedelics As Potential Treatment For Traumatic Brain Injury

Since retiring from the National Hockey League in 2015 at age 30, Daniel Carcillo has dedicated his life to helping athletes and other people like himself who have suffered from traumatic brain injury. Two years ago, he implemented a lifestyle change that included an improved diet, more sleep and the use of a psychedelic drug called psilocybin, which he says has made him feel better than ever.

A psychedelic drug may help treat PTSD. But questions remain on how best to use—and regulate—it

As MDMA and other tightly controlled psychedelic compounds inch closer to regulatory approval, careful supervision from therapists may help overcome their reputation as illicit substances and fears of indiscriminate use.

The Psychedelic Revolution Is Coming. Psychiatry May Never Be the Same.

Psilocybin and MDMA are poised to be the hottest new therapeutics since Prozac. Universities want in, and so does Wall Street. Some worry a push to loosen access could bring unintended consequences.

MEET OUR PSYCHEDELICS INSURANCE LEADERS

Leslie Nylund, CPCU

Leslie Nylund, CPCU

Managing Director, New York Operations & National Program Director

Email: Leslie.Nylund@ahtins.com
Phone: 646.866.7457
Mobile: 917.399.8028

Renee Stock, CCIC

Renee Stock, CCIC

Practice Leader Government Contractors & Technology Director Risk Management

Email: Renee.Stock@ahtins.com
Phone: 703.737.2258