Ethical recall

Boston Scientific is voluntarily expanding its recall of drug-coated stents used in angioplasty.( After finding that 3000 more stents had the same problem (on units manufactured in their Ireland plant the balloon used to hold open the blood vessel was sometimes failing to deflate properly), the company announced it was adding them to the 100,000 Taxus and Express 2 stents it had already recalled.

No telling how much this is costing Boston Scientific. How well does your insurance cover this kind of loss? From the MedMarc/the Hartford Company’s online article about Risk Management for medical device professionals, here’s a list of questions you should ask yourself when you’re buying insurance:

  • Is this kind of loss best addressed by insurance?
  • Which insurance proposal offers the broadest coverage?
  • Which offers the best price?
  • What kind of service can the device company expect if it has a claim?
  • How financially stable and solvent are these insurers?