Can Your Adverse Event Reporting Practices Affect Your Insurance Rates?

Rick Kingston recently spoke at the Consumer Healthcare Products Association’s Regulatory and Scientific Conference regarding Best Practices in Safety Surveillance. During his presentation, Rick explained how dietary supplement firms and manufacturers with best practices in place for adverse event reporting are most likely to receive the best insurance rates. Rick was quoted in “The Tan Sheet” Vol. 20, No. 22 from May 21, 2012 describing how with premiums on the rise, understanding and implementing best practices for your company could really pay off as underwriters will be “much more selective on who they choose to insure.” This means that firms who do not have best practices in place could be subject to higher rates or not qualify for coverage at all.

To read more on this topic, see the full Tan Sheet article.

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