Submission to reduce clinical trial insurance in NSW

In a collaborative effort by the industry, a survey on reducing the minimum requirement for NSW clinical trial insurance is being conducting in lieu of putting together a submission to NSW Health.

In 2011, the minimum requirement for indemnity insurance for commercial sponsors of human clinical trials in NSW was increased from $10 million to $20 million. This has resulted in NSW having the highest compulsory limits in the world and has reduced the attractiveness of running clinical trials in NSW.

The aim of the submission is to make a case to NSW Health to reconsider and reduce clinical trial costs in NSW to a $10 million minimum requirement as well as increase Australia’s competitiveness with running clinical trials.

Victoria successfully opposed the move last year.

To contribute complete this quick survey by 31 May 2013.