“Invisio Clinical Studies Consulting carries out national and international clinical studies with the support of more than 100 trained study assistants, and we would like to ensure they have the best-possible coverage while performing their tasks,” says Managing Director Florian Schnabel. Invisio went searching, therefore, for a partner who was able to offer them company and professional liability insurance specifically tailored to the work of study assistants, and they found it in a large international insurance company. “Together,” Florian Schnabel explains, “we have created a product that provides study assistants with the most comprehensive basic insurance possible. It covers three cases annually: personal injury, material damage and financial losses. The insured amount adds up to a lump sum of three million euros a year.” If the study assistants take out such a contract, the study services provider assumes responsibility for the ensuing costs. The insurance applies personally to each Invisio Flying Study Nurse. This means that they are also insured if a claim occurs while working on projects for other clients.
Protection of private assets
Why did the Mannheim-based company take this step? “Invisio itself is insured against a wide range of damage and losses,” says Schnabel. “However, our insurance does not cover our Invisio Flying Study Nurses in all cases, as they are often not our permanent employees. This means that they, as well as other self-employed persons, run the risk of being personally liable for any damages that occur during their daily work if they do not have appropriate insurance cover. We would like to counteract this.” When it comes to liability issues, he adds, it is also a big advantage for sponsors and CROs if both Invisio as a company and every Invisio Flying Study Nurse is personally insured.
From the company’s perspective, it is important that study assistants are protected against both property damage and personal injury. It is always possible for minor mishaps to occur during the hustle and bustle of everyday life – with high subsequent costs. Even Invisio Flying Study Nurses are not immune to accidentally spilling coffee on a laptop keyboard while working in the test center or clumsily knocking over a valuable floor vase in the hallway during a patient visit. “Another classic example is the loss of keys or key cards”, says Florian Schnabel. “If the entire locking system of a study center needs to be replaced, the invoice can easily amount to several thousand euros. It can hurt a lot to have to pay these amounts from private assets.”.
Educational work necessary
Designing the contents of the insurance in detail was a time-consuming process – especially as the job description of the Flying Study Nurse is relatively unknown. Florian Schnabel needed to talk to many insurers to find and design the right insurance for his needs, and in some cases quite a lot of educational work was required. “Working together with our current partner, we were able to create a product to meet the needs of this modern profession from our point of view”, says the Managing Director, stating that the company and professional liability insurance was well received.
