Risk Averse: Analyzing Enterprise Risk

Author: oswaldcompanies | Date:April 16th, 2013 | Category: Blog, Life Sciences

Business leaders of Life Sciences companies must precisely understand every facet of their company’s position to ensure its well-being. In the following profile piece, Oswald Companies’ Michael Cremeans shares the importance of analyzing enterprise risk from every angle to reduce uncertainties and, ultimately, make organizations more desirable —to insurance companies and potential buyers. Read the […]

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Insurance Terminology for Life Sciences

Author: oswaldcompanies | Date:April 3rd, 2013 | Category: Blog, Life Sciences

Have you ever met a C-Suite level person who likes surprises? Neither have we. That’s why part of any insurance engagement needs to start with education on the basics of insurance, including the terminology that will be used throughout the process. By becoming familiar with commonly misunderstood terms such as “Broad Form Contractual Liability,” “Panel […]

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Contractual Liability for Life Sciences

Author: oswaldcompanies | Date:March 20th, 2013 | Category: Blog, Life Sciences

Poorly worded or unclear contract language can result in both misunderstandings among multiple parties and uncovered claims. This can lead to financial damages and litigation. Your broker may not be an attorney, but needs to provide a detailed explanation of contractual liability exposures as they relate to insurance and indemnification. This provides clients with a […]

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Product Liability for Life Sciences Companies: No Two Policies Are The Same

Author: oswaldcompanies | Date:March 13th, 2013 | Category: Blog, Life Sciences

Depending on the regulatory path of your products, it’s critical to understand the differences between the major insurance policies in the market, and how they can respond in an effective manner. No two policies are the same with regard to claim triggers, contractual liability endorsements, territory restrictions, audits, who is an insured, etc. Based on […]

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Redefining Typical Broker Services for Large Life Science Companies

Author: oswaldcompanies | Date:March 6th, 2013 | Category: Blog, Life Sciences

One of the greatest obstacles to overcome in any company is the existence of organizational silos that can hinder communication, create inefficiencies, and prevent an overall risk/reward picture from being realized. We have been able to help our clients create a common language for Quality, Regulatory and Risk Management in reviewing incidents for reportability requirements. […]

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Medical Device Product Liability Claim Management

Author: oswaldcompanies | Date:February 28th, 2013 | Category: Blog, Life Sciences

Controlling the cost of claims is one of the pillars of our service. Our “edge” is our ability to prepare the claim properly for presentation to the carrier.  Understanding exactly what your policy coverage will respond to is most important at a time of loss.  You have paid the premium and negotiated terms and conditions […]

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The Future of Medicine

Author: oswaldcompanies | Date:February 22nd, 2013 | Category: Blog, Life Sciences

  In case you missed it, watch a great interview of Cleveland Clinic’s Dr. Eric Topol on the future of medicine. Contact me if you would like to discuss this article or other Life Sciences topics.

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How Are You Managing Contractual Liability Exposures?

Author: oswaldcompanies | Date:February 11th, 2013 | Category: Blog, Life Sciences

Life Sciences companies frequently fail to enter formal contractual agreements with their suppliers, and instead rely on insufficient purchase orders or contracts that don’t provide enough detail. Here are some pitfalls: i)        Purchase orders are one-sided and typically don’t require the supplier to indemnify or carry appropriate insurance. ii)       Is recall addressed? iii)     Who really […]

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Consumer Satisfaction Ratio? Medical Loss Ratio’s Unintended Consequence

Author: Andrea Esselstein | Date:September 19th, 2012 | Category: Blog, Life Sciences

“Health premiums should fund care and not insurance company profits,” rings as a policy rallying cry. Good intentions aside, harm to consumers may become an unintended consequence of regulating the Medical Loss Ratio, (“MLR”) of the villain insurance carriers. MLR regulates premium as a percentage of medical care to administration costs , i.e., care to […]

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