Pharmacy and
Healthcare Insurance

The team have over 25 years of experience in creating bespoke insurance and risk management programmes in the Charity sector.

Pharmacy Insurance: Comprehensive Cover Tailored to Your Needs

The Irish healthcare market has undergone a huge change in recent years and continues to evolve today. Practitioners have diversified in terms of the products and services they offer, providing users with more choice than ever. At the same time, alternative and complementary therapies are now sitting alongside traditional medicine, as the two offerings align to create treatment hubs in the public and private sectors.

One of the key points around these developments has been the need for comprehensive medical malpractice and treatment insurance. This requires specialist knowledge of all the associated risks, providing businesses with the right guidance and tools to enable them to practice effectively. As a result, insurance providers operating in this space have needed to restructure their risk- profiling and rating methodologies.

Four Key Areas Your Pharmacy Needs to Insure

1. Professional Indemnity
Mistakes happen—but in a pharmacy, professional errors can have significant consequences. Professional Indemnity Insurance protects you against losses suffered by your customers due to professional neglect, errors, or omissions. Whether it’s dispensing the wrong prescription or offering inaccurate advice, this cover ensures you’re protected when the unexpected occurs.

2. The Pharmacy Itself
Your pharmacy is more than just a business—it’s a vital part of your community. Whether you own the building or lease it, insuring your premises is essential. This includes cover for fixtures, fittings, and stock, ensuring that your pharmacy can recover quickly from unexpected events like fire, flood, or theft.

3. Legal Expenses
Legal challenges can arise from a variety of situations, including employment disputes, contract issues, or claims made against your business. Legal Expenses Insurance provides the necessary financial support to manage these disputes effectively, so you can focus on running your pharmacy.

4. Beauty Malpractice
As pharmacies expand into offering additional beauty treatments and related services, the need for Beauty Malpractice Insurance grows. This cover ensures pharmacists have the protection they need to provide these services safely and confidently.

  • What is normally covered under my pharmacy shop policy? 

    Public and Employer’s Liability are both covered on a retail policy. These sections protect you if a customer or employee injures themselves or damages their property during the course of either doing business in your pharmacy or while working for you.

    Cover for your stock, drugs and fixtures and fittings are also covered under a shop policy. Most Pharmacies have refrigerated stock. During quotation phase we will ask you how much refrigerated stock you carry and how much in each fridge. This is because the insurance companies all have different limits on a policy level as well as on a per fridge level and we will want to make sure that you have the correct cover without overpaying.

    Your glass and signs are also covered under your retail policy and finally your cash cover. Cash cover is for cash in transit to the bank as well as in cash registers during the day and in the safe overnight. Again, different insurers have different limits so we will be asking you questions around your cash amounts, lodgement habits and details of your safe to match up the best shop policy for your business.

  • Professional Indemnity – This is the important one… 

    Professional Indemnity Insurance for Pharmacists (PII) is a type of liability insurance that provides cover for losses suffered by your customers as a consequence of a professional’s neglect, error or omission. Professional Indemnity Insurance also covers the legal costs and expenses incurred in the defence of any claim. Professional Indemnity Insurance is probably the most important insurance policy to Pharmacists and it’s vital that it includes all unintended breaches of professional duty including giving advice, failure to give advice and dispensing errors.

    A pharmacist who is providing advice owes a duty of care to their customers. The standard of duty of care is the provision of “reasonable skill and care”. If a Pharmacist falls below this standard and causes a loss, they may be viewed as being negligent and may, be held liable for any subsequent losses incurred. The world is becoming more and more litigious and as such when an error is made the injured party may be entitled to compensation. It is for this reason PII is a necessity.

Talk to the experts

We have a wealth of experience working with today’s healthcare professionals. Our tailored approach means we will always undertake a detailed assessment of your needs, before offering a bespoke insurance package. Regardless of your position in the market and the diversity of your service offering, we will ensure you’re fully protected against all potential risks.

Some of the related people and organisations we work with include:

  • Community and retail pharmacies
  • Medical clinics, surgeries, and private hospitals
  • Multi-disciplinary healthcare groups
  • Allied health and wellbeing professionals
  • Alternative and holistic therapy practitioners
  • MedTech, telemedicine, clinical trials, and life science companies

Cover options available include:

  • Stand-alone medical malpractice
  • Commercial combined offering including clinics assets and liabilities
  • Cyber liability
  • Financial risks

Bespoke packages will be arranged tailored to your individual requirements.

“..I have used AssuredPartners for the last number of years as I feel they provide cover specifically suited to my business & personal requirements as a pharmacy owner…”

David Magee – Magee Pharmacy

Your Contacts

Rachel Dixon

Corporate Business Development Executive

Direct: +353 (0) 42 935 9032
Phone: +353 (0) 42 935 9004
Mobile: +353 (0) 86 173 7779

rachel.dixon@assuredpartners.ie

Cathriona Faulkner

Commercial Account Handler

Phone: +353 (0) 42 935 9004
Direct: +353 (0) 42 935 9061

cathriona.faulkner@assuredpartners.ie

Contact one of our Pharmacy Specialists