Actual - Insurance

When it comes time to get auto insurance for your car, you will be faced with a number of decisions about the various types of available insura

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

nce. Basically, there are six different parts of an insurance policy. Some of them are mandatory when you purchase car insurance, and some may

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

e optional. Here is a brief explanation of the different types.

Collision Insurance

This is the part that allows your car to be paid for when

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

you get in an accident. If you were to hit another vehicle, have another vehicle hit your car, or you hit another object (such as a tree), the

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

the damage to your vehicle is covered. It also will cover your vehicle in the event of a rollover, too. There are some exceptions, such as stu

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

nts and racing, which will void your being covered during those events.

Comprehensive Insurance

This coverage will protect your car in those

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

vents that are not listed under Collision Insurance. This means that if your car were caught in a fire, flood, is vandalized, stolen, or damage

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

d by falling objects, then it would be covered. For older cars, you probably should just drop this part of your policy.

Medical Payments

This

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

part of your policy provides medical coverage for any bodily injuries to you or your passengers while you are driving. It also covers people wh

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

o drive your car with your permission, or you and passengers when you are driving someone else's car. Funerals are covered, too, in the event o

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

any deaths that may occur. It may also be called Personal Injury Protection in some states.

Bodily Injury Liability

Whenever you get sued be

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ause of a bodily injury or a death, then this part of the policy covers you. There are a number of exceptions under this part of the policy as

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

to who may not be covered and under what circumstances. It would be a good idea to familiarize yourself with them - or the liability for a laws

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

it may fall on your responsibility unnecessarily.

Property Damage Liability

Any property that becomes damaged as a result of your driving, or

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

if your vehicle is driven by someone that you gave authorization to, it is covered under this part of the car insurance policy. This part is u

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ually written together with the Bodily Injury Liability.

Uninsured Motorist Coverage

This is for that other guy who did not bother to buy car

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

insurance. With more than 25% of motorists being uninsured in some states, you definitely need this. It will also cover you in the event of a

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

it and run driver. It is not available in all states.

Each of these sections of your policy can be adjusted by you in order to lower your car

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

insurance rates if necessary. Ask your insurance agent what the recommended limits (legal) amounts are, and go from there upwards. You should s

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ek to have these minimums - and more, if possible. You can also reduce your insurance costs by raising your deductible amount to $500 or $1,000

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Sometimes your lead can go dead. You’re not sure why, but your contact person just goes quiet – sometimes disappearing for good. Was your price too high? Did you say something wrong? What should you do?

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