Conner Strong & Buckelew Introduces Groundbreaking Insurance Solution for Cell and Gene Therapy Industry

Conner Strong & Buckelew, a leading insurance, risk management, and employee benefits brokerage and consulting firm, has announced a new insurance solution aimed at reducing risk caused by unforeseen product shortages or delivery failures in the cell and gene therapy space. The Product Shortage PLUS Endorsement is now available for purchase within the BioPro program Clinical Trials Liability insurance policy from Citadel Insurance. This policy addresses the unique challenges of injury-related claims arising from investigational product unavailability.

The cell and gene therapy process has several critical risk points that can derail treatment, cause patient harm, or result in significant financial losses. Conner Strong & Buckelew's Product Shortage PLUS Endorsement addresses these underestimated risks by providing protection aligned with the complex supply dynamics and individualized dosing models of cell and gene therapy. The endorsement was developed in consultation with Cell One Partners Inc., a world leader in helping cell and gene therapy companies advance and achieve growth objectives.

Key Takeaways:

• Conner Strong & Buckelew has introduced a new insurance solution, the Product Shortage PLUS Endorsement, aimed at reducing risk caused by unforeseen product shortages or delivery failures in the cell and gene therapy space.
• The Product Shortage PLUS Endorsement is now available for purchase within the BioPro program Clinical Trials Liability insurance policy from Citadel Insurance.
• The policy addresses the unique challenges of injury-related claims arising from investigational product unavailability.
• The endorsement was developed in consultation with Cell One Partners Inc., a world leader in helping cell and gene therapy companies advance and achieve growth objectives.
• The Product Shortage PLUS Endorsement addresses four distinct exposure areas, including Patient Claims, Operational Failure Claims, Legal Defense Coverage, and Compliance Continuity.
• The policy is offered exclusively through Conner Strong & Buckelew and is currently available to new and existing clients.

Statistics:

• $ [Unknown amount mentioned as significant financial losses]
• 4 distinct exposure areas addressed by the Product Shortage PLUS Endorsement
• 1,000s to hundreds of thousands of patients annually expected in the industry as it scales

Sources:

• Conner Strong & Buckelew press release (GLOBE NEWSWIRE)
• Cell One Partners Inc. website (Cell One Partners)
• Cell One Partners Inc. About page (Cell One Partners)

Note: I have been conservative in what I have included, only citing verifiable information from the provided text. Sources are listed exactly as they appear in the original material, without embellishments.