Why should pharma, medtech and other life sciences companies consider Zurich’s new Primary Products Liability coverage for companies with revenues under $1B? It's significant capacity underwritten by life sciences specialists who are attuned to complexities in this space, including unique exposures, program structures and regulatory compliance issues. And, as Alex Wells says: "This solution is backed by Zurich’s financial strength, ability to grow with these companies and our global footprint, which is key for many of these companies with operations overseas.” https://spkl.io/604647aJO #LifeSciences #ProductsLiability #MiddleMarket
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💼 The CEO of a pharmaceutical company is accused of failing to disclose potential side effects of a new drug during the FDA approval process, leading to regulatory fines and legal challenges. D&O insurance assists with the legal defense and fines associated with the proceedings. Directors & Officers coverage is designed to protect the personal assets of the individuals serving as directors and officers of a company, as well as the financial well-being of the company itself, against claims resulting from managerial decisions that have adverse effects. Continuing our RISK EDUCATION SERIES, today we are talking about D&O insurance and how important it is for companies of any size: https://lnkd.in/eqfCdhQS #technology #insurance #ERM #automation #directorsandofficers
Primer on Directors & Officers Liability Insurance
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In February 2024 legal action was filed against Johnson & Johnson alleging an ERISA breach of fiduciary duty for mismanagement of a portion of the employee benefit package, prescription drug coverage. https://lnkd.in/e9G5NMvD. One of the examples within the case cites that a certain prescription under the Johnson & Johnson plan costs 250 times more than it does purchasing it outside of coverage at a pharmacy. The complaint alleges that the mismanagement and selection of the pharmacy benefit manager is costing employees millions of dollars. Fiduciary Liability is an inexpensive yet necessary coverage that provides legal protection for specific items including: ➡ Improper administration of benefit plans ➡ Failure to administer plans according to plan documents ➡ Improper selection of third-party vendors ➡ Lack of investment diversity #RiskResource provides a weekly newsletter aiming to simplify the language found within the Property & Casualty insurance industry in order to provide those responsible for investing in coverage a foundation of confidence for the buying process. You can subscribe here 👉 https://lnkd.in/ecvgUrWM #insurance #propertyandcasualtyinsurance #RiskResource #riskmanagement #brianclement #riskstrategies #liability #generalliability #cyberliability #cyberrisk #productliability #professionalliability #errorsandomissions #malpractice #managementliability #assetdevelopment #intellectualproperty #alternativeenergy #renewableenergy #lifescience #healthcare #technology
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McGuireWoods LLP's Allison Ebeck and Shelby Guilbert write: While this significant settlement puts an end to the six-year battle for coverage for the pharmaceutical company, there are several key takeaways regarding coverage for #cyberattacks that in-house counsel and risk managers should consider in 2024: #insurance #exclusions #riskmanagement #insurancecoverage
Merck-Settlement of $1.4 Billion Coverage Dispute Over NotPetya Cyberattack Places Renewed Spotlight on War Exclusions in 2024
https://www.jdsupra.com/
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LCM Solutions -Predictive Safety Champion Patented Predictive Fatigue -Impairment Technologies. Younger Workers Face Higher Injury Rates After Marijuana Legalization Workplace injuries among younger workers increased following the legalization of recreational marijuana sales in several U.S. states, according to a study published in the JAMA Health Forum, reported UPI. The big picture: The study used Bureau of Labor Statistics data to track changes in the rate of workplace injuries among young employees, before and after laws allowing recreational marijuana sales were adopted in their state. The study highlights the potential unintended consequences of marijuana legalization on worker safety, particularly among younger demographics. It underscores the need for further research and potential policy adjustments to address the impacts of legalized recreational marijuana on workplace safety and productivity. By the numbers: 10% increase in workplace injuries was observed among individuals aged 20 to 34 years after the legalization of recreational marijuana sales. 24 states and Washington, D.C. have legalized the possession and sale of small quantities of marijuana for recreational purposes since 2012. 11.9% rise in injuries was observed among young individuals engaged in full-time work after the legalization of recreational marijuana sales. What they're saying: The researchers believe that a loosening of laws around recreational marijuana may hurt younger workers, specifically. That's "consistent with the hypothesis that recreational marijuana impedes (their) cognitive function and care," the researchers said. The takeaway: The legalization of recreational marijuana appears to be linked to a rise in workplace injuries among younger workers, highlighting the potential implications for workplace safety and productivity. LCM Solutions partners Predictive Safety's gamified ( NASA -NIOSH ) developed applications pre-empts work place injuries whilst increasing productivity peer engagement decreasing workers comp related capital expenditures averaging above 35% YOY, join corporate partners as Delta, Anglo America, Washington transit authority, Metro successfully investing in their employee's , third party contractors well being- safety delivering unsurpassed reductions in incidents, claims, legal, insurance related capital expenditures delivering data measured bottom line contributing ROI. Contact LCM Solutions team we look forward to sharing over 100 million hours of data supporting your abilities Proactively investing in your corporations employees well being Safety complimenting your production ROE ambitions. www.lcmsolutions.ca
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NFL Cheerleader turned Emergency Medicine Physician Associate - Empowering Patients to Become Better Consumers of Healthcare.
"Why doesn't insurance immediately cover an expensive, marginal drug with big trial limitations and double digit brain swelling?" ___ Unpopular Opinion: Regulatory capture makes it impossible to use FDA approval as a benchmark for what should and should not be covered by insurance. Lecanemab is a perfect example of how the insurance companies we all love to hate, routinely *save* patients from exploitation via marginal/dangerous drugs/treatments. In an environment where patients are used as conduits for a transfer of wealth between large corporations, critical thinking and (inherently conflicted) discretion are the only sensible plays. Am I wrong? Thoughts? I'm especially interested in dissenting opinions.
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With demand for pharmaceuticals and medical devices rising along with rapid advances in technology, it is critical for life science companies to effectively quantify, mitigate and transfer risk, when appropriate https://lnkd.in/ezk3_qHV #RiskManagement #LifeSciences #ASmarterWayToRisk #WTWPerspective
Insurance Marketplace Realities 2024 – Life sciences
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Interesting & compelling set of recommendations the addressing accelerating costs of #employer funded #healthcare coverage. Just don’t call it insurance because, in reality, there is no insurance component in most of it. Calls for a national public option, abandonment of HDHP’s (a big fail), aggressive reform of PBM’s, elimination of pharma patent abuse, more #CMS negotiation of drug prices, total retail healthcare services price transparency, a national all-payor claims database & more antitrust enforcement against rising healthcare services cartels. #Medicare #MedicareAdvantage
Federal Solutions To Address Rising Costs of Employer-Sponsored Insurance
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We have opened an underwriting center for clinical trials in Belgium to serve clients and broker partners in several regions, including Southern Europe, Benelux & Nordics and France (including South Africa). With Allianz Commercial as the preferred business partner on your side, you will benefit from the solutions we can offer for Clinical Trials. Our experts understand the complexity, urgency and specific risks associated with each phase of a clinical trial and offer tailored (international) solutions. 👉 Contact the team: Laurent Lippens, Kristina Henning, Dirk Antonissen and Frouke Van Loon. ➡ More information about Allianz Commercial in Belgium: https://lnkd.in/dGUeve7M ➡ More information about clinical trials Insurance: https://lnkd.in/d39BBQrM #liability #clinictrials #clinictrialsinsurance #AllianzCommercial
Clinical Trials Insurance | Allianz
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How Insurance Will Shape the Cannabis Industry’s Future? Curious about the future of cannabis and how insurance will play a pivotal role? Check out our latest article that delves into the evolving landscape of cannabis insurance and its impact on the industry. Key Insights: The emerging trends in cannabis insurance. How insurance policies are adapting to the industry's growth. The potential challenges and opportunities for cannabis businesses. Dive into the details and see how insurance could redefine the future of cannabis cultivation and commerce. 👉 Read the full article for full update #CannabisIndustry #Insurance #CannabisCultivation #IndustryTrends #FutureOfCannabis #RiskManagement https://lnkd.in/g9PEm92u
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Mandatsleiter bei ARTUS Unicon AG mit unabhängiger Expertise in strategischem Management und Versicherungsexpertise
Excited to discuss the pivotal role of risk management in life science industry insurance solutions! 🌟 In an ever-evolving sector driven by innovation and discovery, navigating risks is paramount. From clinical trials to regulatory compliance, robust insurance strategies safeguard against unforeseen challenges, ensuring continuity and resilience. 🧬🧪 The biggest insurance risk for life sciences typically revolves around product liability. Given the nature of life sciences, where products often involve pharmaceuticals, medical devices, or biotechnology, the potential for adverse effects or unforeseen complications can lead to significant liability claims. Ensuring comprehensive coverage and risk mitigation strategies against product-related issues is crucial in this industry. We at ARTUS GRUPPE understand your industry and guide you further 👨💼💛💙 Let's connect to explore tailored risk management solutions for the dynamic landscape of life sciences! #LifeScience #RiskManagement #InsuranceSolutions #Innovation" #ARTUSUnicon #LifeSienceSwitzerland
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