Social Space - Automotive

So you’ve had a traffic accident now what?

Firstly is everyone alright. Preservation of life is far more important than the damage to your precious car, so first get a proper perspective

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

and make sure everyone is ok. If any one is injured call an ambulance immediately. Property can be replaced, people can’t.

If no ones injured then fulfil your lawful responsibilities. Exc

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

Examples of combination products may in

ange your details. The easiest way to do this is to swap licences and give them a phone number and who your insurance company is.

Do not admit liability. Don’t lose your head and say, “I’

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

sorry” or “its my fault”. Insurance companies don’t always deal in absolutes in car accidents and partial liabilities may exist at a traffic incident i.e. a 40%-60% split, 10%-90%, etc. Y

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

u will not help by talking when the adrenalin is pumping and saying something that may not help later in court.

If you have comprehensive insurance breath easy. Your next step is to infor

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

Combination pro

your insurance company either by phone or in person to complete their required paperwork. They may ask you to go to the police station. Why? Because its makes their job easier. Insurance

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

ompanies pay to have access to traffic incident reports and if the Police do an investigation it saves them having to do their own and saves them money and possible unneccessary litigation

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

with other insurance companies/parties. If the police determine who is at fault (liability) then the insurance companies don’t have to argue with each other about who should pay. Problem i

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

if Police investigate an accident and your at fault you may also cop a ticket or court appearance and get a fine or lost of licence. So before you go down to the Police station, consider

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

f it has to be reported. If the accident involves an injury, then you are required by law to report it within 48hrs. Also if a vehicle had to be towed or people failed to exchange details,

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

Police may need to be involved, otherwise, if you don’t have to report it, save time and don’t.

Once you have made your insurance claim sit back and let your insurance deal with chasing t

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

Following aspects would a

he other party for the money. Or if you are at fault, pay the excess and let the your insurer deal with it. If the other party contacts you personally refer them to your insurer and tell t

dd to the challenges in developing combination products:

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

em not to contact you again.

Now if you don’t have insurance you have a problem. If your not at fault you need to send a letter of demand to the other party for the costs of your repair.

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

f they fail to respond then you need to go to the small claims court, pay a small service fee and set the matter to be heard before a Magistrate. You give your version of events and they g

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

ve theirs and the Magistrate determines appropriate compensation. If they fail to pay the sheriff can seized property to force payment.

However there can be numerous problems with this. F

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

rstly its time consuming, also if the other party is a dead beat there will be no money and likely never be any money so you will be out of pocket. If your at fault and you have no insuran

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

Professional from academic institutions, pharmaceutical industries, health care indust

e then you can be liable for the other vehicle and have your future earnings garnish for years, poor you if you hit a Rolls Royce, say goodbye to your dream of home ownership.

LESSON:- al

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

ays have car insurance – preferably comprehensive. Less stress, less hassle. If you cars worthless at least have third party insurance to cover you hitting someone else. Don't confuse the

.

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

hird party insurance or CTP on your car registration with normal third party. This only covers injuries to other persons you might cause, it doesn't cover damage to other vehicles and prop

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

Companies that provide selfless information through particip

rty.

(Whilst this is applicable to Qld, Australia, the general principles would apply to most countries. This article should not be interpreted as legal advice or expert insurance advice)

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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