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LONDON--(BUSINESS WIRE)--ACE Group today announced the launch of an enhanced clinical trials liability proposition, which provides life science companies with specialist insurance for clinical trials programmes conducted anywhere in the world, as part of its continued strategy to build dedicated liability insurance solutions for the UK’s fastest growing industries.

With the need for clinical trials to be initiated and completed within short timescales, the high number of changes in regulation and requirements within the UK and overseas as well as the increasing number of trials ran in emerging territories, it is imperative that companies have the right insurance cover in place.

ACE Clinical Trials has been developed in direct response to these needs, offering timely and compliant cover as well as flexible solutions equally suitable for single trials and for large multinational multiple trial programmes. The proposition is designed with pharmaceutical manufacturers, biotechnology organisations, medical device and equipment manufacturers, generics companies and research organisations in mind. It is available for all phases, all types of patients, all types of disease, all types of pharmaceutical and biotech products and medical devices.

Benefits of the enhanced cover include:

• Global casualty cover, including for the US, for UK-based life science companies, through ACE’s network and team of specialist life science and liability underwriters
• Flexible capacity of up to US$75m aggregated limit per investigational product
• Local mandatory limits provided as standard, with the option of a master policy covering difference in limits
• Locally admitted policies in local languages
• Certificate issued within five working days and within 24 hours for a select group of territories and policy documentation issued within 30 days
• Fronting for large captive clinical trials programmes available
• Extended indemnity for clinical research organisations and ethics committees
• Access to specialist expertise from ACE’s dedicated in-house casualty risk engineering team

Mark Roberts, Casualty Manager, UK & Ireland at ACE, said: “ACE Clinical Trials is another example of how ACE brings its specialist expertise and global experience to meet the needs of businesses. With the experience of Claire Wilkinson, our in-house clinical trials expert based here in the UK and the strength of the ACE network of offices in 54 countries, clients can rest assured that their programmes will be compliant wherever they may be taking place. Clinical trials are a key stage in the development of medicinal products and providing compliant cover and quick turnarounds ultimately benefits both patients and companies.”

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About ACE:

ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index.

ACE UK & Ireland’s five regions are:

∙ Ireland (Dublin and Belfast) ∙ Scotland (Glasgow, Aberdeen) ∙ The North (Leeds, Manchester, Newcastle) ∙ Midlands (Birmingham) ∙ London and South East (London, Maidstone, Reading, Watford)

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