Lynn Carney 0:00
Thank you, I'm gonna go through these slides pretty quickly because I want to get to the main stage was are our guest speakers of startup companies. So Medmarc was was founded in 1979 by 31 medical device companies. So we remain part of that industry. We innovate new coverages when new things arise, we look for coverage in our policy rather than serve our code several several of our competitors that look for a way to not deny your claim. So we've been in business for 45 years, and we're rated a excellent by am best. So we offer products liability, what is product liability. That is if when your product touches humans and covers bodily injury or property damage, we also offer errors and omissions, liability, excess liability. So if you're building a tower of insurance, we can be above other carriers. We have a 10 million capacity and we write phase one human clinical trials all the way through the building multi billion dollar company multinationals are part of Apple appetite, the easiest thing to say is we write everything from your simple adhesive bandage all the way up to artificial hearts. So currently, we've insured over 1 trillion global sales, we know what we're doing. We currently have over a million clinical trial participants insured around the world, we offer true worldwide coverage. Many of our competitors require the claim be brought back to the United States, we do not we will offer claims coverage for you anywhere in the world except for federally prohibited, which is North Korea and Iran, and parts of Russia right now. And so the majority of our clients are startup companies with under 10 million in sales. And then we have a strategic partner to write the wraparound coverages, your property, your auto, your work comp, etc. So ask your insurance carrier, I already went over what worldwide coverages and then several, the next question is several of our competitors have very long list of excluded products, we do not. And so as your get your Renewal Policy, you've got three pages of excluded products, no one reads their insurance policy, you're not going to go through and see if your product or component of your product is added to that list that year. So when you're with Medmarc, when we feel comfortable that if we ever do add an excluded product, we're gonna put it in the front, very loud. And we're actually going to let you know send a letter with you saying, Hey, we're excluding that product. And we've only done one in our 45 years. So that's opioids because of the ongoing crisis. And so then the third thing is we have dedicated life science claims reps. Some of our competitors have claims reps that are doing a Truck Rollover one day and your claim the next day, our claims reps only do product, medical medical device, product liability claims all day long every day. They understand your science, they understand the regulatory concerns you're under, and they have ways to try to keep your name out of the media if there's a claim arise. We also offer risk management, which is free to our Medmarc clients. Our attorneys can review contracts with your suppliers, they will not write your contract for you, if they're not your attorney, but they are a attorney. Our goal is that if you bring them a contract, they can look over it for you sort of give you some advice. So when you go to your attorney, you have sort of an outline of what you need in there to hopefully save you money at your attorney. They also are offered training classes, they have much more than this. My favorite is the writing defensively to mitigate products liability risk. And then they offer information on product recalls. They do on site reviews for our larger clients or for people that request it. And then they do assessment FDA warning letters for you and help you out with that as well. So our claims experience we've handled over 22,000 medical technology claims our attorneys are in defense network are specialists in life science products, just like our claims reps are. And a defense strategy that was developed by the US has gone through a Supreme Court and prevailed three times. So here's more of our claims we handle from first dollar even though you have deductible, we're not leaving you to your own devices. Once you have a claim. We will handle the claim and they just fill you back for the deductible. And then why does specialize in specialization matter? Because in the med device industry, we have high settlement value potential specific defenses such as preemption and learned intermediary, so so you can contact me, I will be around conference. I'm in the rotunda most of the day, my sponsor table, but there's my information
© 2024 Life Science Intelligence, Inc., All Rights Reserved. | Privacy Policy
