India has benefited from the introduction of a formal system of product patents because the pharmaceutical industry has witness a substantial change in the way patents are employed. This has been instrumental in the industry’s success as an exporter of high quality generic drugs.
India offers a huge cost advantage for multinational companies to set up research and development units. With such huge setups and productions units, managing risks can be a difficult task.
The risks that the industry is facing are critical and complex, while the claims can be long drawn and spread across geographies. Product performance is the topmost priority because flawed formulations can not only lead to financial damages and legal repercussions but also cost lives
In order to tackle these unforeseen incidents, it is imperative for Pharmaceutical industries to opt for a smart, customized and potent risk mitigation program. Au Insurance Brokers bring to the table, an acute sense about the risks you face and the knowledge and tools to help you select the best risk management policy. We have the financial strength, the reach and the resources to provide the right solutions.
- Property Damage including physical damage from natural hazards like flooding, windstorms, earthquakes
- Liability like products liability, employer and public liability, environmental liability
- Clinical trials liability - This is a potential risk for the sponsors and doctors
- Marine cargo and goods in transit
- Directors and other management liability
- Engineering and construction risks
- Business interruption, delay in start-up and advance loss of profits
- Contractors’ plant and equipment
At VIBS, we analyze all the risks associated with your business and provide you the best possible insurance solution, with best company and policies that suits your need.
Contact Us to know more about the most comprehensive risk management solutions for your business.