Pharmacy insurance in North Carolina

What insurance does a NC pharmacy need?

Core coverages include: pharmacist professional liability (malpractice, covering dispensing errors and professional service claims); product liability (covering claims arising from medications dispensed); commercial property (building, prescription inventory, equipment); crime coverage (controlled substance theft and employee dishonesty); general liability; and workers comp. The professional liability is the most critical coverage.

What is pharmacist professional liability insurance?

Pharmacist professional liability (malpractice) covers claims arising from professional pharmacy services, dispensing errors (wrong drug, wrong dose, wrong patient), drug interaction failures, compounding errors, and counseling errors. These claims can involve serious patient harm and carry significant claim values. Standard general liability does not cover professional errors.

What controlled substance coverage do NC pharmacies need?

Controlled substances (Schedule II-V medications) are targets for theft and diversion. Standard crime policies may have sub-limits inadequate for pharmacy inventory values. A pharmacy-specific crime program should address controlled substance theft, employee dishonesty, and robbery, at limits appropriate for the inventory carried.

What product liability do NC pharmacies face?

Pharmacies can face product liability claims even when dispensing correctly, from adverse reactions, manufacturer defects, or the inherent risks of medications. Product liability coverage protects against claims arising from medications dispensed or products sold. This is separate from professional liability, which covers service errors.