What is Professional Malpractice Insurance for Clinical Research Associates?
Professional malpractice insurance for clinical research associates gives clinical monitors insurance coverage to protect personal assets and career status. In an increasingly complex regulatory environment, CRAs need to be well informed, while continuously engaged with sponsors to manage or monitor the clinical trial process. This important work done by clinical research associates leaves them susceptible to potential malpractice lawsuits, making clinical research associate professional liability insurance a must have.
What Risks Do I Face as A Clinical Research Associate That Warrants Clinical Research Associate Professional Malpractice Insurance?
Clinical research associates (CRA) are responsible for organizing, administering or monitoring clinical trials of new or current drugs in order to assess the benefits and risks of using them. Because of the accountability and risk involved in these medical testing environments, CRA malpractice insurance coverage should be a priority so you can focus on your job duties of managing clinical trials without the fear of personal risk in the case of a malpractice lawsuit or liability claim. Additionally, financial loss exposures in life science industries have potential to be immense. If found liable for malpractice, a company’s damages for the costs of reworking and reconstitution of a trial or the loss of future revenue will be their priority. Therefore, it is imperative for clinical research associates, whether self-employed or working at a hospital, lab, or other types of facilities, to have individual medical malpractice insurance for the protection of your personal interests, eliminating the risk of damages to your financial or career future.
Why Do I Need Malpractice Insurance for Clinical Research Associates?
As a CRA working in a prestigious organization, such as a pharmaceutical company, medical research institute or government agency, having medical liability insurance is essential. Professional liability insurance for clinical research professionals protects you in the case of an actual error, an alleged error or an omission. Liability insurance for clinical research associates will keep personal assets safe and pay for unexpected legal fees in the event that a medical malpractice lawsuit or claim arises out of negligent behavior.
CM&F Clinical Research Associate Liability Insurance Coverage
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