Medical Product Liability Insurance

Medical Product Liability Insurance

Medical product liability insurance is designed to cover manufacturers, distributors, and importers against legal liability arising from damage or injury caused by a product defect or malfunction. The policy indemnifies the company for claims arising from any defect that causes bodily injury or property damage.

A medical product liability policy is not equivalent to standard product liability insurance. It is a specialized insurance product that requires a deep understanding of both the client’s specific needs and the policies available in the market. Solutions are typically sourced in international insurance markets and often require tailored policy wording, including the addition of specific coverages and the removal of exclusions.

Madanes Insurance Agency specializes in the medical sector, including medical product liability and clinical trials insurance. We leverage our extensive professional experience to structure the medical product liability insurance policy best suited to your needs.

For more information contact Sigal Mishaan

Email: smishaan@madanes.com
Telephone: 03-6380473

Why Is Medical Product Liability Insurance Necessary?

The Defective Products Liability Law of 1980 was enacted to compensate individuals who suffer bodily injury as a result of using a defective product.

Under this law:

  • Manufacturer Liability – Responsibility is imposed directly on the manufacturer. If the manufacturer is not an Israeli entity, the liability rests with the importer.
  • No Direct Relationship Required – Liability does not require a direct commercial relationship between the manufacturer and the injured party. Any individual harmed by the product may file a claim.
  • Financial Backstop – Insurance provides a vital source of funds for compensation. This is critical for entities without substantial financial resources, where a major claim could significantly impair operations.

The exposure is significantly greater in the context of medical products. As a result, the risk level increases considerably, making specialized medical product liability insurance essential to safeguarding the stability and continuity of your business.

Why Arrange Medical Product Liability Insurance Through Madanes?

As a specialized insurance solution, medical product liability requires thorough knowledge of both client operations and global policy structures. Coverage is typically sourced from international markets and often requires customized wording to add necessary protections or remove restrictive exclusions.

At Madanes, we specialize in the medical sector and life sciences. We possess the professional expertise and industry experience required to deliver appropriate insurance solutions for companies across various fields and at any scale.

Combined and Modular Insurance Solutions

Madanes offers a unique solution for companies operating in the medical sector. We provide a combined and modular insurance structure that integrates the following into a single policy:

  • Medical Product Liability
  • Clinical Trials Insurance
  • Professional Liability
  • Cyber Insurance
  • Medical Professional Liability

This approach is designed to address the full range of a company’s exposures within one comprehensive and streamlined insurance solution.

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