Background
BiomedicInsure is an insurance brokerage company founded in 1990 in anticipation of the requirements of the Huriet Law, making insurance compulsory in France for clinical trials. Biomedic Insure was the first to issue specific policies, and this first on behalf of members of the National Pharmaceutical Industry Union (the LEEM).
BiomedicInsure has met the needs of the pharmaceutical sponsors, university hospitals, associations, medical sponsors, medical device companies, public organizations, etc., since the Huriet law took effect on May the 14th, 1991, through specific professional indemnity policies of clinical trials sponsors’.
Since 1997, BiomedicInsure has issued policies covering international protocols.
In 1998 BiomedicInsure produced a specific policy to meet the needs of the clinical trials providers (CRO, association, Clinical trial assistant, …)
In 1999, Life Science companies sought our assistance to provide coverage for their future clinical trials, together with their specific insurance needs, in particular for professional liability (Errors and omissions, General third party liability, Directors and officers liability, product liability).
Together with various players in the market, notably France Biotech, we have carried out an in-depth study to further develop the services we provide. BiomedicInsure is now able to offer tailored insurance tailored to cover the risks connected to this industry. (including pre clinical or clinical studies, and sale or provision of a service).
In 2002, BiomedicInsure developed a new approach concerning product liability coverage for the pharmaceutical industry, following changes in :
- Health legislation (law no. 2002-303 of 4th March 2002)
- Insurance and re-insurance market (exclusion of molecules, sharp increase in premiums, withdrawal of some companies from the market)
BiomedicInsure, following extended consultation with pharmaceutical professionals (pharmacists, chemists, doctors) can now provide pharmaceutical industry product liability coverage through a comprehensive and original scientific approach.
In 2004, BiomedicInsure developed the same approach concerning the Medical Device Industry. Biomedic-Insure is now able to offer tailored insurance to cover the risks connected to this industry.