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20 January 2021

MedApp enters into an insurance agreement with Chubb European Group SE, beginning expansion into new foreign markets

MedApp has just signed an insurance agreement with Chubb European Group SE, Branch in Poland, for the implementation of activities in thearea of information technology related to healthcare. For the company, which develops innovative 3D holographic imaging technologies, used e.g. in cardiology, oncology and orthopedic procedures (CarnaLife Holo) and in the education of medical staff (SurgeonEye), as well as next-generation digital medicine solutions, this is a major step in expanding into foreign markets.

“At MedApp, we set new standards in diagnostics, cardiology, oncology, orthopedics and medical education. Already today CarnaLife Holo, aplatform for 3D holographic imaging of medical data, is used during surgical procedures in the most renowned clinics, and we can see an ever-increasing demand for our technology outside of Poland,” said Krzysztof Mędrala, CEO of MedApp. “The insurance agreement that MedApp has signed will facilitate our talks with distributors. The medical technology industry is all about credibility and safety, and we provide these at the highest level. That is why we invited the insurance market leader Chubb European Group SE to cooperate.”

As part of the agreement just signed, the insurance covers health care information technology business. The subject matter and scope of the agreement include: liability for products and services, for damages other than personal injury and property damage, and for defects in products and services and defects in workmanship, as well as employer’s liability for the consequences of occupational accidents and civil liability.

The guaranteed sum is £1,000,000 per event and aggregate events during the period of insurance, and in the case of employer’s liability for the consequences of accidents at work it is £5,000,000 per event and aggregate events during the period of insurance. The aggregate limit on the policy is £5,000,000 per event and events during the period of insurance.

The territorial scope of the signed agreement includes all countries of the world with the exclusion of Iran, Iraq, Cuba, Syria, the Democratic People’s Republic of Korea, Sudan, Crimea, Venezuela and the United States and Canada. However, the company anticipates being able to expand coverage to the latter two countries upon FDA certification, which it is currently preparing for.

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