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Travel insurance is one of those things that most of us reluctantly buy, hoping we will never actually need.

It’s an annoying but often necessary expense if you are planning a business tr

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

ip or holiday abroad. And like many other aspects of insurance, it can be confusing, costly and time consuming to get the right cover. Here are some tips to make the process a little bit e

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

Examples of combination products may in

sier:

How Much Travel Insurance do you Need?

Determine how much coverage you really need and don’t be persuaded into taking out more coverage than is necessary. There is

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

actually no legal requirement to have travel insurance when travelling abroad. You should take into account such factors as your destination, length of trip and your age. Families should

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

ake out a family policy, which covers adults and children and usually costs less than individual policies. Less than 60 countries actually have reciprocal health agreements with the UK – a

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

Combination pro

d those that do mostly operate on an emergency basis only. If you are travelling to Switzerland or a country in the European Economic Area, you are also eligible for free or reduced rate e

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

mergency medical care. And if you think your credit card may include travel insurance – check the small print carefully, as the wording is often misleading and you may not be covered under

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

your credit card.

Don’t assume the insurance offered by your travel agency is always the best value. Travel agents generally receive a commission on each policy sold and their in

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

surance may not be the most competitively priced – in fact it can cost an average of five times as much as it should. And insurance provided by a travel agent or a tour operator isn’t regu

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

ated by the FSA (Financial Services Authority) whereas most independent insurance companies are members.

What Should be Included in Your Travel Insurance?

Make sure you h

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

ve adequate medical insurance – the most important part of any travel insurance policy, and the reason most of us get travel insurance. Apart from treatment abroad, you may need to return

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

Following aspects would a

to the UK in an emergency, or for specialised treatment. The cost of this can be very expensive – an estimated ?30,000 to travel by Air Ambulance from the Eastern US; an estimated ?14,000

dd to the challenges in developing combination products:

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

o return from one of the Mediterranean islands. Ideally, this service should be available 24 hours a day.

Adventure trips and holidays featuring extreme sports are more popular t

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

han ever these days. Does your travel insurance cover you against such activities as bungee jumping, sky diving and mountaineering? These are just a few of the activities that will normall

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

be excluded unless you specifically request coverage. Skiing and scuba diving – two commonplace activities – are considered dangerous sports too. Winter sports coverage is usually offered

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

as an optional extra or included under a separate policy. Surprisingly though, statistics prove that most accidents abroad actually happen in hotel rooms!

Consider trip cancellat

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

Professional from academic institutions, pharmaceutical industries, health care indust

ion insurance. As the name suggests, this insurance covers you in the event of delays or cancellations. Some of the most common reasons you may need this type of insurance are bankruptcy o

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

a cruise line or airline, weather delays and other natural disasters and labour disputes. Most discount air tickets have stiff penalties for changing dates or cancelling them altogether –

.

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

it may pay to insure against that possibility.

It might seem like you’re throwing money down the drain that could pay for a nice meal or day trip on your holiday, but good tr

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

Companies that provide selfless information through particip

vel insurance doesn’t have to be expensive if you know where to look and can be a real life saver if things turn sour, particularly if you’re thousands of miles away from home when it does

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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