Getting pharmacist liability insurance is what smart pharmacists do to protect themselves. This website will help you understand what it is, why you need it, and how to find the best insurance plans for the cheapest rates.
Liability insurance for pharmacists isn't insurance for pharmacists only. If you are a pharmacy intern, pharmacy extern, or pharmacy student, this liability insurance is also for you. Pharmacists were once known to be drug distributors only. But today, a pharmacist is thought to also be an expert when customers want to know information about drugs. They once only had to understand a physician's handwriting or verbal orders, but now a pharmacist must prevent a patient from taking a medication they are allergic to or a prescription that would interfere with other drugs they are taking.
How did this all change? Laws determined that whoever has the most understanding will assume liability and responsibility which is called the "learned intermediary doctrine". Somehow, even though it is unspoken, people now think of pharmacists as the ones possessing all the facts about drug therapy and medications. A Pharmacist not only has to be able to prevent drug interactions, they can also be held liable for wrong over the counter advice about medication. Yikes!
Now that you know you can get hit with a lawsuit, it's time to find some insurance protection. Most rates are less than $200/year and give you an average of $3 million in coverage. But, the best way to find the most coverage for the cheapest rates is to look around and compare. You can get quotes from several of the top insurance providing websites by going to business.com.
Maybe you'd like to work directly with a company that specializes in liability insurance for pharmacists. Check out Pharmacist's Mutual Companies. They have been around since 1909, evolving with the times to meet pharmacist's changing needs. Their board of directors includes active pharmacists and attorneys that keep up with the current laws and legal actions affecting you. Pharmacist's Mutual Companies will also provide you with a number of other financial services.
Check out our website devoted to professional and liability insurance if you'd like more general information on this subject. We also have a website that gives you insider details about the insurance industry that may help answer more questions you have.