 "Firms rush for vaccine liability cover as India kicks off vaccination drive")
Covid-19 vaccine manufacturers in India have got themselves covered with product liability policies as the immunisation drive has started.
They had also taken clinical trial liability insurance during the trial phase to protect themselves.
Insurance companies, on the other hand, have sought reinsurance support for such coverage from India’s largest reinsurer General Insurance Corporation (GIC Re).
“The reinsurance support, which has been sought by insurance companies, is for product liability. Hence, if the vaccine has some negative effects, the insurers will be liable to pay. Two companies — ICICI Lombard and New India Assurance – have sought
They had also taken clinical trial liability insurance during the trial phase to protect themselves.
Insurance companies, on the other hand, have sought reinsurance support for such coverage from India’s largest reinsurer General Insurance Corporation (GIC Re).
“The reinsurance support, which has been sought by insurance companies, is for product liability. Hence, if the vaccine has some negative effects, the insurers will be liable to pay. Two companies — ICICI Lombard and New India Assurance – have sought
