News: New Product Announcement - Pharmaceuticals and Clinical Trials

Liability Division is pleased to announce the addition of Pharmaceutical and Medical Devices and Clinical Trials to its comprehensive and expanding range of well respected insurance products.

Pharmaceutical and Medical Devices

SRS has the ability to underwrite Pharmaceutical and Medical devices with 100% Lloyd's security up to a limit of AUD$50M.

SRS’ target markets are (but not limited to): 

• Companies engaged in the manufacturing, wholesaling, or retailing of medical and pharmaceutical products, including companies who are  the importers of (e.g. parallel importers) medical and pharmaceutical products. This would also include product licence holders and contract manufacturers.
• Companies engaged in the manufacturing, distribution or storage of blood or blood related products. This would include products derived from plasma, (including albumin, platelets, immunoglobulin, red blood cells and white blood cells) and anti-coagulant and coagulant factors.
• Companies engaged in manufacturing, wholesaling or retailing of monitoring, investigative equipment and substances (e.g. x-ray equipment, computer tomographs, MRI scanners, gamma knives).
• Companies engaged in the manufacturing, wholesaling or distribution of chemicals that are not pharmaceutical end products, but that are ingredients of pharmaceutical products (including the “active pharmaceutical ingredient” which gives a drug its therapeutic action), or catalysts, used in the manufacture of pharmaceutical products.
• Companies engaged in manufacturing, wholesaling or retailing of any item used in a medical or therapeutic context outside the human body, such as support devices, plasters, dressings, surgical gloves. 

Clinical Trials

SRS is able to provide Clinical Trials cover based on a No Fault Compensation Policy with the added option to include a Legal Expenses Extension.

SRS’ ability to underwrite Clinical Trials includes human volunteer studies, bioequivalence studies and clinical trials of: new drugs, medical devices, treatments, procedures etc. or existing drugs, medical devices, treatments with new uses/indications.

If you wish to receive a quotation from SRS for any of the above classes, proposal forms are available at our website www.srs.com.au.  Alternatively, feel free to contact David Peck on dpeck@srs.com.au or Paul O'Leary on poleary@srs.com.au.

Posted on Tuesday, 15 Mar 2011