Product and Professional Liability Insurance
All your bases covered….
IMDA offers two insurance programs designed especially for medical specialty sales and marketing organizations -- product liability insurance and business insurance.The current insurance marketplace is in turmoil. Many insurance carriers are withdrawing from the tougher classes of business, including medical equipment manufacturing and distribution. Those still offering coverage are increasing rates and imposing greater underwriting restrictions.
To help its members meet their need for professional and product liability insurance, IMDA has appointed an independent insurance agency with years of expertise in providing comprehensive insurance coverage to medical equipment and supply distributors. Schifman, Remley & Associates has excellent relationships with a number of brokers who can help IMDA members find affordable, comprehensive coverage.
It is requested that members submit applications at least 45 days in advance to allow adequate time for processing.
IMDA’s product liability program was what first attracted me to the association. I found I couldn’t afford the rates for product liability insurance on my own. At the same time, I found that hospitals were increasingly asking their distributors for certificates of insurance. So I signed up for the program and found that what I saved in premiums was enough to pay my first-, second- and third-year membership dues.
--Ralph Yaffe, Precision Surgical Inc.