Pharmacist Liability Insurance
Pharmacist liability insurance is designed to protect pharmacists who are facing
lawsuits. In order to be covered in a lawsuit, the pharmacist must have already purchased coverage and have an
active policy at the time the suit is filed. There is no compensation for a lawsuit that occurred before a policy
was instated. This type of insurance is a form of professional liability insurance, meaning it covers negligent
acts. Regular liability insurance doesn't, so it should not be confused with this type of coverage.
In recent years, pharmacists have gained much more responsibility in their scope of practice.
They have evolved from workers who took order, packaged and counted medications, to providing some information
to patients. Their role today is much more difficult and there is far more to learn about pharmaceuticals. With
their increase of responsibility came an increase in lawsuits, warranting this necessary form of
Pharmacist Liability Insurance - What You Should Know
At one time, a pharmacist wouldn't be held liable for bad information. Today, if
a pharmacist tells a patient to do something that ends up causing that patient harm, the pharmacist can be sure of
a lawsuit. For example, if the pharmacist told a patient it was acceptable to consume alcohol with a drug and the
patient became ill and required hospitalization, the pharmacist could be fully liable for the patient's hospital
care and possibly personal damages and mental anguish.
Since pharmacists are now considered to be the reliable experts on
pharmaceuticals, it is essential to have coverage. Everyone makes mistakes at some point, so in this litigious
society, pharmacists need to be sure their practice is covered. Pharmacist liability insurance companies may vary
in what they cover and how much, depending on the state of residence.
Pharmacist Liability Insurance - Compensation
Each company compensates on a per-incident basis with a maximum allowed dollar
amount. Policies usually have very definitive explanations of what is covered. Essentially, the pharmacist will be
provided compensation for litigation expenses, travel expenses, personal or property damage to the injured party,
mental anguish and license protection. In addition to this, some companies may offer accidental death insurance.
Policies with this provision are usually considerably higher than others.
Pharmacist liability insurance isn't as expensive as most people believe it is.
For less than $300 per year, pharmacists can obtain $3 million in coverage. Most of the coverage amounts listed are
the aggregate amounts. There is usually a cap amount less than this that is awarded on a per-claim basis. If the
aggregate amount is $3 million, the per-incident is likely $1 million. All pharmacists should have this vital