Pharmacy Professional Indemnity Insurance Specialists
As a profession that provides advice to customers, pharmacists rely on professional indemnity insurance to protect them in times of need. At a time when you need to be indemnified for costs and other out-of-pocket expenses, our pharmacist professional indemnity insurance policy gives you peace of mind in the event of an error.
Backed by the strength of QBE, one of Australia’s biggest insurers, our policy provides members with $20 million professional indemnity cover and it meets Australia’s national registration requirements per the standards devised by the Australian Health Practitioners Regulation Authority (AHPRA).
For pharmacists operating pharmacies in Melbourne, here is important information to help you make the right decision.
What is Pharmacy Professional Indemnity Insurance?
Professional indemnity insurance for pharmacists and pharmacies protects those who provide advice to customers. The pharmacy industry relies on professionals guiding customers on matters relating to their health. Since errors are likely to occur, faulty advice can be detrimental to the customer.
Do I Need Pharmacy Professional Indemnity Insurance?
There are many risks associated with providing advice to others. A failure to consider all circumstances affecting the customer might cause an error to be made. With time pressures, lack of clear information and cost limitations, people can make mistakes. It is important that your pharmacy has professional indemnity insurance so that the business is not affected in the event of a claim.
Why is Pharmacy Professional Indemnity Insurance important?
All types of insurance are important. In particular, a claim for providing misleading or negligent advice could affect the reputation of the pharmacy, the accreditation of the pharmacist and subsequent business loss. To lower the severity of harm to the pharmacy, professional indemnity insurance ensures that negotiations take place so that matters do not escalate between the customer and the pharmacy. Most often, matters are resolved without having to use legal processes.
How Much Does Pharmacy Professional Indemnity Insurance Cost?
The cost of professional indemnity insurance varies depending on the sum insured, the excess and other factors. Based on policy wordings and exclusions, we can help you create a customised insurance package that suits your needs and budget.
What Does Pharmacy Professional Indemnity Insurance Cover?
Professional indemnity insurance covers you in the event that you communicate advice to a customer that eventually causes them financial loss or damage. We all make mistakes and it is crucial that you protect your interests so that you are not exposed to a large liability. Our cover can help you minimise legal costs, out-of-pocket expenses, stress and other emotional and reputational consequences.
How much Pharmacy Professional Indemnity Insurance do I need?
The amount of cover varies depending on your circumstances. Our standard cover provides members with $20 million of professional indemnity cover. We can work with you to tailor the right level of cover for you so that you can feel comfortable with the product you have acquired.
Get A Pharmacy Professional Indemnity Insurance Quote
Although you might shop around to find the cheapest quotation, remember to consider the service and tailored insurance package that you will receive from us. With a dedicated advisor to guide you along the way, they will assist you to explain the insurance product and provide you with a quotation after asking a few simple questions.
We work hard with our clients to deliver exceptional products and results. We negotiate on your terms to ensure that you are comfortable with your insurance policy so that there are no surprises when a claim is made.
At Carollo Horton, we strive for excellence and provide the best-value insurance packages. Let our dedicated team talk to you about our professional indemnity insurance products and services for pharmacists and pharmacies in Australia.
Contact us to discuss your business and Pharmacy Professional Indemnity Insurance needs. We service Melbourne, Sydney, Brisbane, Adelaide, Perth and all regional areas of Australia. Call 1300 227 655 or submit an online query now to receive a response as soon as possible.