Know the 5 common coverage gaps that could cost you your career.
With its fast pace and massive volume of medications, the pharmacy profession is ripe for claims and litigation. If you think your employer’s coverage will protect you in the event of an error (actual or alleged), complaint, or legal claim, consider the following:
GAP #1: Employer coverage is designed to protect the company first, pharmacists second. Nothing personal, it’s just a matter of dollars and cents.
GAP #2: Your employer’s coverage may only be effective at your place of employment. If you have a second job, volunteer, or give advice to a neighbor, you’ll be on your own.
GAP #3: If a court judgment exceeds your employer’s limits, you may be responsible for paying the difference. That could cost you tens of thousands of dollars.
GAP #4: Employer insurance may not help when a patient files a complaint to the Board of Pharmacy. This could put you at risk of a disciplinary action without proper representation.
GAP #5: You may be fully responsible for suits against you if you leave that company. This is especially true if your employer uses a claims-made based policy.
Protect your assets, your license, and your reputation. Individual pharmacist professional liability from Pharmacists Mutual picks up where typical employer insurance stops. Tailored specifically to you, it’s peace of mind protection that covers common gaps.
What it covers: Immunizations and other drug administration, drug research, medication consultation, drug and device storage, Good Samaritan acts, defendant expense benefit, sexual and physical abuse defense, and more.
Who it covers: Over 110 years of experience protecting all pharmacists: retail, compounding, hospital, student, volunteer, self-employed, and more.
For a free proposal: 800.247.5930
This post is related to:Insurance (Malpractice & Business)