WHO teams up with insurer on no-fault compensation program for COVID-19 vaccines in poorer countries

The World Health Organization (WHO) and insurer Chubb Limited (NYSE: CB) have signed an agreement for the administration of a no-fault compensation program 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 vaccine injury compensation mechanism operating on an international scale, the program will offer eligible people in AMC-eligible countries and economies a process to receive compensation for rare but serious adverse events associated with COVAX-distributed vaccines until June 30, 2022.

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