Clinical Trial Insurance in South Korea

By Doherty, Jon | Risk Management, November 2010 | Go to article overview
Save to active project

Clinical Trial Insurance in South Korea


Doherty, Jon, Risk Management


[ILLUSTRATION OMITTED]

In recent years, South Korea has focused on the health care and biopharmaceutical industries as new growth engines for the national economy. As a result, the country has quickly become one of the most popular locations for human clinical trials.

Between 2004 and 2009, the number of clinical trials taking place in South Korea more than doubled, moving the country's ranking from 34th internationally (based on the number of trials) to 12th, according to ClinicalTrials.gov, a service of the U.S. National Institutes of Health. But for trial sponsors, the insurance climate in South Korea is very different than what they may be accustomed to in the United States.

Typically, trial sponsors purchase product liability insurance that provides coverage should a study participant be injured during a human clinical trial. Similar policies are available in South Korea, but there are some important distinctions. The amount of coverage is much lower in South Korea, for instance. The limits for the typical policy purchased in South Korea are usually $100,000 to $300,000 compared with $2 million to $10 million in the United States. Terms of coverage are also different. The standard policy in South Korea provides coverage for medical expense and indemnity, but does not cover legal liabilities. The amount of compensation provided under the policy is determined through an adjudication process, but to receive the compensation, the injured party is required to waive the right to sue. If the study participants do not waive the right to sue, the sponsor faces the threat of legal liability without any insurance protection to help minimize a loss.

When trial sponsors conduct trials, they rely on hospitals and clinical research organizations to assist them with their studies. In the United States, these partners typically purchase insurance, which helps to reduce the burden on the trial sponsors by ensuring that the partners are also protected from a loss. But in South Korea, sponsors cannot assume that hospitals and clinical research organizations have adequate insurance.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited article

Clinical Trial Insurance in South Korea
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?