• New programme makes compensation available to eligible individuals in 92 low- and middle-income countries without need to resort to law courts
  • This is the first and only global vaccine injury compensation mechanism
  • The programme is funded by a small levy on each dose supported by the Gavi COVAX AMC  

 

The World Health Organization (WHO) and Chubb Limited (NYSE: CB), through ESIS Inc., a Chubb company, signed an agreement on behalf of the COVAX Facility on 17 February 2021 for the administration of a no-fault compensation programme for the 92 low- and middle-income countries and economies eligible for support via the Gavi COVAX Advance Market Commitment (AMC) of the COVAX Facility.

As the first and only vaccine injury compensation mechanism operating on an international scale, the programme will offer eligible individuals in AMC-eligible countries and economies a fast, fair, robust and transparent process to receive compensation
for rare but serious adverse events associated with COVAX-distributed vaccines until 30 June 2022.

By providing a no-fault lump-sum compensation in full and final settlement of any claims, the COVAX programme aims to significantly reduce the need for recourse to the law courts, a potentially lengthy and costly process.

ESIS, as the independent administrator of the programme, was selected in accordance with WHO’s procurement rules and procedures, and charges no fees to applicants.

All vaccines procured or distributed through the COVAX Facility receive regulatory approval or an emergency use authorization to confirm their safety and efficacy.

But, as with all medicines, even vaccines that are approved for general use may, in rare cases, cause serious adverse reactions.

 “The unprecedented nature of the COVID-19 pandemic has been matched by the largest ever rollout of new vaccines under the ACT-Accelerator and its vaccines pillar, COVAX. This no-fault compensation mechanism helps to ensure that people in AMC-eligible
countries and economies can benefit from the cutting-edge science that has delivered COVID-19 vaccines in record time,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “We are pleased to be collaborating with Chubb, which
has the capabilities to support the COVAX facility through its global network and claims handling ability. WHO’s agreement with Chubb offers further protection and confidence in the life-saving power of vaccines.”

“The No-Fault Compensation fund is a massive boost for COVAX’s goal of equitable global access to vaccines: by providing a robust, transparent and independent mechanism to settle serious adverse events it helps those in countries who might
have such effects, manufacturers to roll out vaccines to countries faster, and is a key benefit for lower-income governments procuring vaccines through the Gavi COVAX AMC,” said Dr Seth Berkley, CEO of Gavi.

The COVAX no-fault compensation programme will be operationalized through its web portal (www.covaxclaims.com) by 31 March 2021, which will include resources such as the programme’s
protocol, Frequently Asked Questions (FAQs) and information on how to submit an application.

Eligible individuals may apply for compensation under the programme once the portal becomes operational, even if a COVAX-distributed vaccine is administered to them before 31 March 2021.

The programme is financed initially through Gavi COVAX AMC donor funding, calculated as a levy charged on all doses of COVID-19 vaccines distributed through the COVAX Facility to the AMC eligible economies until 30 June 2022.

WHO is working with Chubb to secure insurance coverage for the programme with Chubb as lead insurer.

Chubb is proud and honoured to work with the World Health Organization and its partners on the critically important COVAX programme,” said Evan G. Greenberg, Chairman and Chief Executive
Officer of Chubb. “The COVID-19 pandemic has had a devastating effect on people and economies around the globe, and the development and deployment of efficacious vaccines is a crucial step toward ending this crisis. However, a vaccination strategy
is only as effective as the number of people it reaches, which is why the COVAX facility is so critical. Access to the protection offered by a vaccine should not be limited or restricted. All countries, regardless of income levels, should have equal
access to these life-saving vaccines.”

The delivery of COVID-19 vaccines during 2021 will be the fastest and largest global deployment of novel vaccines in history. The COVAX Facility aims, by the end of 2021, to deliver at least 2 billion doses of safe, effective and quality-assured vaccines
to all participating countries, including at least 1.3 billion doses to the 92 AMC-eligible countries and economies, at the same time as wealthier nations.

***

ABOUT the COVAX Facility

The Gavi-administered COVAX Facility forms a key part of the COVAX pillar (COVAX) of the Access to COVID-19 Tools (ACT) Accelerator, a ground-breaking global collaboration to accelerate the development, production, and equitable access to COVID-19 tests,
treatments, and vaccines. COVAX is co-led by Gavi, the Coalition for Epidemic Preparedness Innovations (CEPI) and WHO, working in partnership with developed and developing country vaccine manufacturers. 
 

ABOUT WHO

The World Health Organization provides global leadership in public health within the United Nations system. Founded in 1948, WHO works with 194 Member States, across six regions and from 149 offices, to promote health, keep the world
safe and serve the vulnerable. Our goal for 2019-2023 is to ensure that a billion more people have universal health coverage, to protect a billion more people from health emergencies, and provide a further billion people with better health and wellbeing. 

For updates on COVID-19 and public health advice, visit www.who.int and follow WHO on
TwitterFacebookInstagramLinkedInTikTokPinterest
SnapchatYouTubeTwitch 

 ABOUT Gavi, the Vaccine Alliance

Gavi, the Vaccine Alliance is a public-private partnership that helps vaccinate half the world’s children against some of the world’s deadliest diseases. Since its inception in 2000, Gavi has helped to immunise a whole generation – over
822 million children – and prevented more than 14 million deaths, helping to halve child mortality in 73 developing countries. Gavi also plays a key role in improving global health security by supporting health systems as well as funding global
stockpiles for Ebola, cholera, meningitis and yellow fever vaccines. After two decades of progress, Gavi is now focused on protecting the next generation and reaching the unvaccinated children still being left behind, employing innovative finance
and the latest technology – from drones to biometrics – to save millions more lives, prevent outbreaks before they can spread and help countries on the road to self-sufficiency. Learn more at www.gavi.org and connect with us on Facebook and Twitter.

The Vaccine Alliance brings together developing country and donor governments, the World Health Organization, UNICEF, the World Bank, the vaccine industry, technical agencies, civil society, the Bill & Melinda Gates Foundation and other private sector
partners. View the full list of donor governments and other leading organizations that fund Gavi’s work here.

 

ABOUT CHUBB

Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance,
reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive
product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index.
Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: www.chubb.com
.

 ABOUT ESIS, A CHUBB COMPANY

ESIS, Inc. provides claim and risk management services to a wide variety of commercial clients. Our innovative best-in-class approach to program design, integration, and achievement of results aligns with the needs and expectations of our clients’ unique
risk management needs. With more than 66 years of experience and offerings in both the U.S. and globally, ESIS provides one of the industry’s broadest selections of risk management solutions covering both pre- and post-loss services.

 

 





Source link

By admin

Leave a Reply

Your email address will not be published. Required fields are marked *