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News - Rates crisis must be averted.
(From Post Magazine)
Insurers must engage more with pharmaceutical firms to avert a rates crisis, it was claimed this week.
Lyn Rossano, global broker Willis' head of life science practice for North America, insisted underwriters must have greater knowledge of the companies they are covering to ensure insurance is available.
She agreed with fears aired last week that sky-high prices and insurers' onerous drug exclusion lists are causing pharmaceutical manufacturers, other than global giants, to stop developing high-risk potential medicines (PM, 25 August, p1).
The crisis was exacerbated two weeks ago by a Texan court's decision to hold Merck responsible for the death of a man in 2001 who took its arthritis painkiller Vioxx. Merck will appeal the ruling but initial ...
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