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ELN » Topics » We are subject to continuing potential product liability risks, which could harm our business.This excerpt taken from the ELN 6-K filed Mar 30, 2007. We
are subject to continuing potential product liability risks,
which could harm our business.
Risks relating to product liability claims are inherent in the
development, manufacturing and marketing of our products. Any
person who is injured while using one of our products or
products which we are responsible for, may have a product
liability claim against us. Since we distribute and sell our
products to a wide number of end users, the risk of such claims
could be material. Persons who participate in clinical trials
involving our products may also bring product liability claims.
Excluding any self-insured arrangements we currently do not
maintain product liability insurance for the first
$25.0 million of aggregate claims, but do maintain coverage
for the next $150.0 million with our insurers. Our
insurance coverage may not be sufficient to cover fully all
potential claims, nor can we guarantee the solvency of any of
our insurers.
If our claims experience results in higher rates, or if product
liability insurance otherwise becomes costlier because of
general economic, market or industry conditions, then we may not
be able to maintain product liability coverage on acceptable
terms. If sales of our products increase materially, or if we
add significant products to our portfolio, then we will require
increased coverage and may not be able to secure such coverage
at reasonable rates or terms.
Elan Corporation, plc 2006 Annual
Report 149
Table of Contents
This excerpt taken from the ELN 20-F filed Feb 28, 2007. We are
subject to continuing potential product liability risks, which
could harm our business.
Risks relating to product liability claims are inherent in the
development, manufacturing and marketing of our products. Any
person who is injured while using one of our products or
products which we are responsible for, may have a product
liability claim against us. Since we distribute and sell our
products to a wide number of end users, the risk of such claims
could be material. Persons who participate in clinical trials
involving our products may also bring product liability claims.
Excluding any self-insured arrangements we currently do not
maintain product liability insurance for the first
$25.0 million of aggregate claims, but do maintain coverage
for the next $150.0 million with our insurers. Our
insurance coverage may not be sufficient to cover fully all
potential claims, nor can we guarantee the solvency of any of
our insurers.
If our claims experience results in higher rates, or if product
liability insurance otherwise becomes costlier because of
general economic, market or industry conditions, then we may not
be able to maintain product liability coverage on acceptable
terms. If sales of our products increase materially, or if we
add significant products to our portfolio, then we will require
increased coverage and may not be able to secure such coverage
at reasonable rates or terms.
This excerpt taken from the ELN 6-K filed Mar 31, 2006. We are subject to continuing
potential product liability risks, which could harm our
business.
Risks relating to product liability claims are inherent in the
development, manufacturing and marketing of our products. Any
person who is injured while using one of our products may have a
product liability claim against us. Since we distribute and sell
our products to a wide number of end users, the risk of such
claims could be material. Persons who participate in clinical
trials involving our products may also bring product liability
claims.
We currently do not maintain product liability insurance for the
first $25.0 million of aggregate claims, but do maintain
coverage for the next $150.0 million with our insurers. Our
insurance coverage may not be sufficient to cover fully all
potential claims.
If our claims experience results in higher rates, or if product
liability insurance otherwise becomes costlier because of
general economic, market or industry conditions, then we may not
be able to maintain product liability coverage on acceptable
terms. If sales of our products increase materially, or if we
add significant products to our portfolio, then we will require
increased coverage and may not be able to secure such coverage
at reasonable rates.
This excerpt taken from the ELN 20-F filed Mar 30, 2006. We are
subject to continuing potential product liability risks, which
could harm our business.
Risks relating to product liability claims are inherent in the
development, manufacturing and marketing of our products. Any
person who is injured while using one of our products may have a
product liability claim against us. Since we distribute and sell
our products to a wide number of end users, the risk of such
claims could be material. Persons who participate in clinical
trials involving our products may also bring product liability
claims.
We currently do not maintain product liability insurance for the
first $25.0 million of aggregate claims, but do maintain
coverage for the next $150.0 million with our insurers. Our
insurance coverage may not be sufficient to cover fully all
potential claims.
If our claims experience results in higher rates, or if product
liability insurance otherwise becomes costlier because of
general economic, market or industry conditions, then we may not
be able to maintain product liability coverage on acceptable
terms. If sales of our products increase materially, or if we
add significant products to our portfolio, then we will require
increased coverage and may not be able to secure such coverage
at reasonable rates.
Table of Contents
This excerpt taken from the ELN 6-K filed Apr 11, 2005. We are subject to continuing potential product liability risks, which could harm our business. Risks relating to product liability claims are inherent in the development, manufacturing and marketing of our products. Any person who is injured while using one of our products may have a product liability claim against us. Since we distribute and sell our products to a wide number of end users, the risk of such claims could be material. Persons who participate in clinical trials involving our products may also bring product liability claims. We currently maintain an aggregate $150.0 million of product liability insurance, with the first $25.0 million of aggregate claims not covered, the next $125.0 million covered by our insurers, the next $25.0 million not covered and the next $25.0 million covered by our insurers. Our insurance coverage may not be sufficient to cover fully all potential claims. If our claims experience results in higher rates, or if product liability insurance otherwise becomes costlier because of general economic, market or industry conditions, then we may not be able to maintain product liability coverage on acceptable terms. If sales of our products increase materially, or if we add significant products to our portfolio, then we will require increased coverage and may not be able to secure such coverage at reasonable rates.
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