Navigation Links
Clinical Trials Move to Emerging Regions, Heighten Need for Local Risk Consulting: Aon Global Risk Map
Date:9/17/2009

CHICAGO, Sept. 17 /PRNewswire-FirstCall/ -- Aon Corporation (NYSE: AOC), the leading global provider of risk management services, insurance and reinsurance brokerage, and human capital consulting, today issued the findings of its 2009 Clinical Trials Risk Map to address the constantly changing environment in which biotechnology, pharmaceutical and medical device companies conduct business around the world.

(Logo: http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO)

The likelihood that a clinical trial may be negatively impacted is on the rise in relation to the increasing scrutiny and compliance regulations associated with the shift in recent years toward moving clinical trials from the U.S. and Western Europe to emerging regions such as Eastern Europe, Latin America and Asia.

While the decision to conduct clinical trials abroad varies based upon each life sciences company's unique needs, a complex insurance regulatory environment is all but guaranteed across the industry. An additional challenge identified by the 2009 Clinical Trials Risk Map is the increasing number of countries that now require admitted insurance coverage, or coverage that is purchased from an insurance company licensed within the country where the trial is being conducted.

"In the past, a certificate of insurance could be issued in the U.S., stating that the policy in place would address any liabilities associated with a clinical trial," stated James Walters, managing director of Aon's Life Sciences practice and author of the 2009 Clinical Trials Risk Map. "Today, life sciences firms must often secure local country coverage, which requires the understanding of legal requirements in each jurisdiction. Without the proper counsel on the ground, the risk of error can be costly and ultimately result in a delayed or cancelled clinical trial."

Aon's 2009 Clinical Trials Risk Map assigns symbols to countries around the world to identify:

  • Compulsory clinical trials insurance requirements - government-mandated
  • Extended reporting or life-of-trial requirements - government-mandated
  • Compulsory limit of liability - government-regulated
  • High compulsory limit of liability - government-regulated
  • Deductibles permitted by law
  • Broker-issued insurance certificate permitted by regulatory authorities
  • Admitted insurance requirements by local country
  • Countries where Aon has a physical presence in one or multiple cities

Often fraught with intricacies related to local language regulations, levels of coverage and the specific contractual language required, clinical trials insurance demands the focused attention of a risk management partner intimately familiar with navigating each country's requirements to secure the proper admitted clinical trials insurance coverage.

About the 2009 Aon Clinical Trials Risk Map

The annual Clinical Trials Risk Map, produced by Aon's Life Sciences practice, provides an overview of clinical trial insurance complexities encountered by life sciences companies when conducting clinical trials around the globe. The map is based on the practice's expertise in placing coverage and mitigating risk for these firms in over 70 countries throughout the world. The global network of Aon's life sciences experts is positioned to assist life sciences companies to efficiently and effectively secure international coverage for their clinical trials in adherence to the regulatory environments of individual countries.

To register for a copy of Aon's 2009 Clinical Trials Risk Map, visit http://www.aon.com/clinicaltrialsmap.

Follow Aon on Twitter: http://www.twitter.com/aoncorp

Sign up for News Alerts: http://aon.mediaroom.com/index.php?s=58

About Aon

Aon Corporation (NYSE: AOC) is the leading global provider of risk management services, insurance and reinsurance brokerage, and human capital consulting. Through its more than 37,000 colleagues worldwide, Aon readily delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Aon's industry-leading global resources and technical expertise are delivered locally through more than 500 offices in more than 120 countries. Named the world's best broker by Euromoney magazine's 2008 and 2009 Insurance Survey, Aon also ranked highest on Business Insurance's listing of the world's largest insurance brokers based on commercial retail, wholesale, reinsurance and personal lines brokerage revenues in 2008. A.M. Best deemed Aon the number one insurance broker based on brokerage revenues in 2007 and 2008, and Aon was voted best insurance intermediary, best reinsurance intermediary and best employee benefits consulting firm in 2007 and 2008 by the readers of Business Insurance. For more information on Aon, log onto http://www.aon.com.

    Media Contact
    Kelly Drinkwine               Tiffany Greco
    312.381.2684                  312.755.3549
    kelly_drinkwine@aon.com       tiffany.greco@kemperlesnik.com


'/>"/>
SOURCE Aon Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. New Assay Detects 100 Percent of Stage I, II and III Colon Cancers in Pre-Clinical Trials
2. CEL-SCI to Commence First Clinical Study with Hospitalized H1N1 Infected Patients
3. Second U.S.-Egypt Collaborative Clinical Study Blocked by New York State Department of Health (NYSDOH), This Time on Complications of Diabetes
4. CBI Announces the Agenda for Their West Coast Forum on Clinical Supply Chain Management
5. CryoLife Announces First Clinical Use of BioFoam(R)
6. Access Pharmaceuticals Provides Update on ProLindac(TM)Clinical Development Plan
7. Mpex Pharmaceuticals Announces Positive Phase 2b Clinical Trial Results with Aeroquin(R) (MP-376) Treatment in Cystic Fibrosis Patients
8. Esperance Pharmaceuticals Announces Initiation of Clinical Studies of its Novel Membrane-disrupting Agent, EP-100, in Patients with Cancer
9. /C O R R E C T I O N -- Clinical Therapeutics/
10. Biovista Inc. Announces Positive Efficacy Results in a Pre-clinical Trial of its BVA-201 Repositioned Drug for Multiple Sclerosis
11. Oramed Pharmaceuticals Commences Human Clinical Trials of an Oral GLP-1 Analog
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... TOKYO , June 24, 2016  Regular discussions on ... to take place between the two entities said Poloz. ... in Ottawa , he pointed to the ... and the federal government. ... Poloz said, "Both institutions have common economic goals, why not ...
(Date:6/24/2016)... ... ... While the majority of commercial spectrophotometers and fluorometers use the z-dimension of 8.5 ... end machines that use the more unconventional z-dimension of 20mm. Z-dimension or ... the cuvette holder. , FireflySci has developed several Agilent flow cell product lines ...
(Date:6/23/2016)... Seattle, WA (PRWEB) , ... June 23, 2016 ... ... technology, announces the release of its second eBook, “Clinical Trials Patient Recruitment and ... patient recruitment and retention in this eBook by providing practical tips, tools, and ...
(Date:6/23/2016)... June 23, 2016   Boston Biomedical , ... compounds designed to target cancer stemness pathways, announced ... granted Orphan Drug Designation from the U.S. Food ... gastric cancer, including gastroesophageal junction (GEJ) cancer. Napabucasin ... to inhibit cancer stemness pathways by targeting STAT3, ...
Breaking Biology Technology:
(Date:5/9/2016)... 2016 Elevay is currently known ... freedom for high net worth professionals seeking travel for ... connected world, there is still no substitute for a ... sealing your deal with a firm handshake. This is ... advantage of citizenship via investment programs like those offered ...
(Date:4/26/2016)... 2016 Research and Markets has ... Market 2016-2020"  report to their offering.  , ,     ... The analysts forecast the global multimodal biometrics market ... the period 2016-2020.  Multimodal biometrics is ... as the healthcare, BFSI, transportation, automotive, and government ...
(Date:4/13/2016)...  IMPOWER physicians supporting Medicaid patients in ... standard in telehealth thanks to a new partnership with ... IMPOWER patients can routinely track key health measurements, such ... and, when they opt in, share them with IMPOWER ... local retail location at no cost. By leveraging this ...
Breaking Biology News(10 mins):