When you’re working hard to run your pharmacy business, you want to make sure it will continue operating in the future – no matter what happens. But dealing with the public always carries some degree of risk, from on-site accidents and faulty products to property damage and theft. And if things go wrong, the consequences can be costly and stressful.

Whether you operate a large or small pharmacy business, we can work with you to tailor the right insurance cover to meet your needs and industry regulations, including:

• Property insurance – covers the costs of repairs, restoration or replacement from damages and losses caused by theft, fire and weather events.
• Management liability insurance – protects owners and management personnel from losses and costs arising from legal action against the business.
• Public and products liability insurance – covers damages related to accidents, injuries and illnesses to third parties on your pharmacy premises or as a result of using your products.

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As a pharmacist, your business relies on the quality of advice that you provide to your customers during times of need. So if you provide advice that is inaccurate and it results in a legal claim, it can have a major impact on your business finances, reputation and even accreditation.

That’s why our professional indemnity packages are tailored to protect pharmacists in the event of a claim. We facilitate negotiations to avoid legal processes, helping you minimise legal costs and out-of-pocket expenses, as well as stress and reputational damage.

Our professional indemnity insurance meets the standards put in place by the Australian Health Practitioners Regulation Authority (AHPRA).

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As an employee pharmacist, your clients look to you for the right advice – and if you provide them with incorrect advice, you can be held legally responsible. That’s why your AHPRA registration requires you to have personal professional indemnity cover, in case of a legal claim by a client.

Our cover enables you to meet your AHPRA obligations and is tailored for the full set of activities you’re registered and qualified to perform – including vaccinations and medicine reviews.

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Your customers’ privacy is your number one concern – but because pharmacies store sensitive and personal customer information, they are at increasing risk of cyber attacks and data breaches.

On the 22nd February 2018, Australia’s data breach notification laws came into force. With new requirements to report security breaches to My Health Record and Notifiable Data Breach Schemes, cyber attacks can become costly and time-consuming – as well as damaging to your reputation.

Now is the time to consider how cyber insurance could be a useful and cost-effective new part of your risk management plan. While most business insurance policies don’t cover cyber security, our Cyber Essentials package has been specifically designed for pharmacies that have good IT support and security in place.

These tailored packages are designed to protect your pharmacy business against losses from a wide range of cyber events, including:

• System damage
• Privacy fines and investigations
• Computer virus and hacking
• Privacy breach
• Extortion cover
• Privacy breach loss mitigation

As part of our cover you also have access to a 24/7 Emergency Response Unit that can provide the assistance you need, when you need it most.

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