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Pharmacy and Pharmacists Insurance
Specialist pharmacy insurance cover for Professional Indemnity Insurance, buildings, contents, and business risks. We know pharmacies.
We arrange insurance for more than 3,000 pharmacies. Pay for the insurance you need, and we know what that is because we know pharmacies.
For over 10 years, we have been delivering insurance for pharmacies across the UK. In that time, our team has worked with some of the largest independent pharmacy groups, as well as the local high street pharmacy, all of whom provide the important local services our communities need.
Our knowledge of the sector means we understand that your Insurance Policies; including your Pharmacy Professional Indemnity Insurance (also known as Pharmacy Indemnity Insurance), in addition to Shop Insurance, Employers Liability, Fleet Insurance and Management Liability, are core cover that are important to you, and that they need to provide appropriate cover, at a competitive price.
Our specialist team can save you time when arranging your insurances, and should you need to make a claim, our in-house claims team are on hand to support you through notifications and claims.
Get the cover you need.
We know pharmacies.
Pharmacy Insurance
Comprehensive
Insurance solutions tailored to your business and your risks.
Value
Only pay for the cover you need, and not what you don’t need.
Specialists
More than 3,000 pharmacies work with us. We know pharmacies.
Choose a product to get a quote or learn more
Professional
Indemnity Insurance
-
Professional Indemnity Insurance protects you from financial loss in the event of a negligent act or omission that causes patient harm or injury.
Popular
Commercial
Shop Insurance
-
Cover your Buildings and Contents
in the event of insured damage
and theft, with Employers Liability
included.
Popular
Fleet
Insurance
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If your business has two or more
vehicles, whether they are cars, vans or
both, we can insure them
on a fleet policy.
NEW
Management
Liability
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Cover for claims made against
you or your business’ directors
in the event a claims arises
following a negligent act.
Summary of Pharmacy Insurance cover
Having pharmacy professional indemnity insurance, otherwise known as pharmacy indemnity insurance or medical malpractice, in place as a pharmacy will protect you and your staff and engagees (such as locums) against financial loss in the event of a negligent act or omission that causes harm or injury to a patient.
Benefits of Professional Indemnity (Pharmacy Indemnity Insurance)
- Limit of £10m aggregate
- Cover for all employees and engages (locums)
- Retroactive cover
- Covid & Flu Vaccinations
- Pharmacy First
- Legal Helpline of trained qualified person
- GPHC Investigation costs and expenses up to £50,000
- Legal Expenses cover £100,000
- FREE Run Off Cover for 36 months
- Claims Manager Advocate with 12+ years experience in pharmacy
- A+ Rated Insurer
- Nil Excess
- All PGD's (excluding weight loss)
Commercial Shop Insurance including Employers’ Liability Insurance, which includes:
- Employers Liability Limit of 10m each and every occurrence
- Business Interruption £1m standard
- Seasonal increase – stock sum insured increased by 25% for the months of September, October, November and December
- Tenants Improvements cover (with the first £7000 included free of charge)
- £5000 refrigerated goods (per location)
- Money on premises up to £4,000 during business hours or in a locked safe
- Crisis containment cover
- A rated Insurer
Competitive fleet insurance quotes available for Pharmacies
Here are just some of the potential benefits we can offer:
- All vehicles to be insured for “any authorised driver”. Terms and conditions will apply.
- Save money by insuring multiple vehicles on a single policy.
- Save time by having all your vehicles on one policy means you only have one policy to administer.
- Enjoy greater flexibility by adding or removing vehicles and/or drivers as you need to.
- Help should you need to make a claim.
- Breakdown cover is also available.
To get a competitive Fleet quote get in touch with our brokers or give them a call on 01562 822664
Management Liability Insurance
Management Liability Insurance is typically created using three policy types:
Directors’ & Officers’ Insurance
This cover protects your directors, officers, general managers, and LLP partners from claims arising out of alleged wrongful acts, such as breach of duty of care, breach of trust, negligent errors, or health and safety failure. Even though the claims may relate to the company they work for, investors, regulators, employees, or the public, they may result in loss of assets, such as cars and houses, if legal fees or fines are due for payment.
Corporate Legal Liability
A company is recognised as a separate entity from its owners and managers. This means that the company can be held accountable for various legal obligations and face claims independently of its stakeholders.
This protection covers various liabilities such as mismanagement, corporate identity crime, health and safety breaches, discrimination, or unfair dismissal.
Employment Practices Liability Insurance
Your employees are becoming more aware of their rights, especially as workplace law evolves. Workplace law strengthens employee rights and expands protections against various forms of discrimination, victimisation, unfair dismissal, or harassment.
Employment Practices Liability helps you manage the risk and protects you, your directors, and the business against financial loss from claims made by your employees for employment practice violations.
Complete our Management Liability Insurance proposal form
Whether you’re a large multi-location or small rural/local pharmacy, you are not immune to cyber threats. Given the volume of personally identifiable data you store, you’re either always preparing for a cyber threat by implementing IT Security features or planning to implement features to stop them.
Many people acknowledge that cyber events happen but still refuse to believe that they will happen to them, and their business.
One single point of vulnerability in your pharmacy is all it takes for a cybercriminal to access your network, log in to a device or the tools you use, or trick you or a staff member into sending them money.
Cyber Insurance can help. While we’ll tailor your Cyber Insurance policy to your needs, common protections include:
- Data loss.
- Extortion claims.
- Network damage and rebuild costs
- Business interruption.
- Legal fees.
- Added value services, including firewall protection, anti-virus software and monitoring software.
If you are an online pharmacy, our team will be able to support you with building an insurance programme to suit your needs.
Get the cover you need.
We know pharmacies.
Talk to our specialists
Pharmacy Insurance Claims. Caring for those who care the most.
We know it can be difficult to understand the insurer claims processes or to pull together the information needed to inform us of a dispensing error, accident or damage to contents or your property.
Our in-house claims team will be on-hand to support you through the entire process, from claim notifications to settlement.
Our insurance also comes with a free legal helpline and legal representation should you need it.
Pharmacy and Pharmacist
What insurance do I need for my pharmacy?
You are required to hold Pharmacy Professional Indemnity Insurance, which is a policy to protect you against claims by patients who have suffered loss or damage due to your medical negligence.
Other insurance covers that you should consider adding to your insurance programme are:
Commercial Shop Insurance – which can provide cover for your contents and includes Employers Liability insurance.
Fleet Insurance – if you have two or more cars, vans or a mix of both.
Management Liability insurance – which provides cover for the business entity and its Directors should claims be made against you.
Cyber Insurance – which provides cover for your pharmacy in the event of a cyber-attack.
Do I need indemnity insurance as a pharmacist?
Yes. Pharmacy Indemnity Insurance is a legal requirement Under article 32 of the Pharmacy Order 2010, “you must have appropriate indemnity cover”. If you’re negligent and someone comes to harm, they’ll receive the compensation and legal costs they’re entitled to.
Choosing suitable Pharmacy Indemnity Insurance cover “Your indemnity” arrangement may be:
- an insurance policy
- organised by your employer
through a professional body, trade union or defence organisation - a combination of the above
- You must make sure that your pharmacy indemnity arrangements provide suitable cover. It needs to be appropriate to the nature and extent of the risks involved in your practice, so enough compensation will be paid if a successful claim is made against you.
Pharmacy Indemnity Insurance, also known as Pharmacy Professional Indemnity, is designed to protect pharmacists and pharmacy owners from claims, investigations, and subsequent proceedings filed by patients or other third parties who allege harm or loss as a consequence of an improper service, product, advice, or counsel you have provided them with.
Simply put, it covers claims arising from your conduct and duty of care, such as a dispensing error.
Pharmacy Indemnity Insurance is still applicable for any products or advice you provide for customers, clients, or others, even if this is provided for free, as you could still be liable for claims for incorrect advice.
Why Insurance for your Pharmacy is Important
The two main policies we offer for pharmacies are designed to protect you and give peace of mind by defending you and your business against unexpected mishaps – everything from damage to your premises and injuries to staff or customers, to claims made against any advice you give and prescriptions you fulfil.
It can help you to get back up and running quickly if your pharmacy premises are damaged or even destroyed by a serious incident like fire or flood ‒ and even help replace any income you lose out on while getting everything back to normal.
What is pharmacy or Pharmacist run-off cover?
Run-off cover is important, as once your pharmacy is sold, or you have retired a claim could come in for up to three years since you have dispensed the item or 18 years for a child. Because the effects of mistakes can take time to manifest in patients, run-off cover is required as it provides a special professional indemnity policy that provides cover related to services provided when the business was in operation.
