Underwriters said they would not be withdrawing cover for clinical trials following the drug trial for TGN 1412, which left six men seriusly ill.
The Medicines and Health-care products Regulatory Agency (MHRA) is now conducting an investigation after the drug, designed to tackle auto-immune diseases, super-activated the immune system, causing severe inflammatory swelling of the subjects.
Chris Tait, Chubb's European life science undewriter said: "We're committed to providing cover- insurance is compulory as a result of the EU Clinical Trials Directive."
While most trials are without serious incident, Tait added: "No trial can be said to be totally safe. We can never be complacent."
Markel (UK) recently entered the sector, with a new policy, Specialty Liability, for the medical, surgical, pharmaceutical, cosmetic and scientific equipment industries.
Managing director Steve Carroll said: "We're aiming at start ups and incubators with turnovers of less than £20m and a maximum sum insured of £5m."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
