Pharmacists play a unique and vital role in the Canadian healthcare world. They see hundreds of patients a day and fill thousands of prescriptions a week. There are many different kinds of pharmacists working under different circumstances. Regardless of if you work in a hospital, commercial space, or independent location, insurance is an essential asset to any pharmacy practice. Having the right insurance protects you from the risks associated with errors filling prescriptions as well as workplace liability claims.
Professional liability insurance for Pharmacists
Mistakes are made in every single professional industry, however, some have more costly impacts than others. Additionally, some industries are at higher risk than others. As a pharmacist, making a mistake with medication can have both legal and financial implications. Having insurance that covers liability could potentially save you millions in legal claims and even save your practice. Errors and omissions insurance covers the costs associated with the accidental error, malpractice and negligence. Of course, having insurance does not mean you don’t need to be careful; pharmaceuticals is a particularly higher risk profession, and proved attentiveness at work can even decrease your insurance payments.
General Liability Insurance for Pharmacists
General liability insurance protects pharmacists from third-party legal claims of bodily injury or property damage. This type of insurance is notably important for pharmacists with their own practice, that way if someone gets hurt or incurs property damage in your pharmacy, the liability will be covered. Your general liability insurance premium can be decreased by limiting the number of hazards on your property, maintaining a clean and tidy work environment, and following all legislation.
General Liability Insurance for Pharmacists
General liability insurance protects pharmacists from third-party legal claims of bodily injury or property damage. This type of insurance is notably important for pharmacists with their own practice, that way if someone gets hurt or incurs property damage in your pharmacy, the liability will be covered. Your general liability insurance premium can be decreased by limiting the number of hazards on your property, maintaining a clean and tidy work environment, and following all legislation.
Cyber Insurance
Pharmacists have seen a major shift in the way they receive new prescriptions and prescription refills. A lot of people are now using websites and apps to request a refill for their medication or to pay for their new prescriptions. To protect your data from cyber-attacks, cyber insurance is a necessity. Regardless of if the information stolen is of great value or not, coverage can range from investigation costs to software damage costs, and even third-party lawsuits. The proper insurance policy can help cover all costs associated.
We at isure know that for each pharmacy and respective pharmacist, there are different levels of coverage needed. That is why there are different levels of coverage ranging from $1,000,000 per claim, all the way up to and surpassing $5,000,000 per claim.
Have questions about what type of coverage you need? Looking for a better rate? Looking to be insured for the first time as a pharmacist? isure has you covered! Call us today and receive a personal quote.
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