Clinical Trials Move to Emerging Regions, Heighten Need for Local Risk Consulting: Aon Globa...(negatively impacted is on the rise in re...)

Date:9/17/2009

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 canc
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SOURCE Aon Corporation Copyright©2009 PR Newswire. All rights reserved

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