Protecting Your Retail Pharmacy with Specialist Insurance
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Running a retail pharmacy involves much more than dispensing prescriptions. Today’s pharmacy businesses provide an increasingly broad range of services, from immunisations and clinics to health consultations, home visits and other specialist services. With this comes a range of risks that require insurance designed specifically for the pharmacy sector.
Since 1987, Chemistshield has specialised in the insurance needs of retail pharmacies, developing comprehensive insurance cover with specialist features and competitive rates.
Our continuous market research helps us ensure that the range of cover available and the level of premium charged remain competitive for the retail pharmacy industry. The insurance is underwritten by Choice Insurance and managed by AE Insurance Brokers Ltd, providing flexible cover that is continually updated to reflect the changing insurance needs of retail chemists and pharmacies.
Cover designed for your pharmacy
Every pharmacy is different, which is why the Chemistshield policy can be adapted to meet your specific requirements.
Core benefits include:
- Buildings cover, including accidental damage and subsidence as standard
- Optional terrorism cover
- Contents cover, including protection for high-value stock
- Business interruption cover, helping protect against loss of revenue following an insured event, with different sums insured and longer indemnity periods available to reflect the specific nature of pharmacy businesses
- Goods in transit cover for prescription deliveries
- Money cover
- Book debts cover following loss or damage to records
- Deterioration of stock cover for refrigerated goods
- Employers’ liability cover for death or bodily injury to employees
- Public and products liability cover, protecting against legal liability to third parties in the event of injury or property damage
- Commercial legal expenses cover
This comprehensive approach means that a range of important pharmacy risks can be brought together under one insurance policy, with limits of indemnity available to suit your requirements.
Professional indemnity for modern pharmacy services
As pharmacy services continue to develop, professional indemnity is an important consideration for businesses providing services beyond traditional dispensing.
Chemistshield’s medical malpractice or professional indemnity insurance provides cover against claims arising from professional negligence, acts or omissions connected with pharmaceutical duties. This can include activities such as operating clinics, providing immunisation services, treating common health concerns, healthy living services, weight loss services and other treatments.
The policy includes costs and legal expenses, together with access to professionals who can provide support to your pharmacy. Professional indemnity can also include pharmacists associated with your chemist, with a range of limits of indemnity available to suit your needs.
More than an insurance policy
For pharmacy owners, insurance is about more than simply having a policy in place. If an incident occurs, having knowledgeable support throughout the claims process can make a significant difference.
Chemistshield does not outsource its claims service. Instead, an experienced member of the team provides a single point of contact, helping you navigate the claims process and understand the support available under your policy.
Our approach is straightforward:
We work with you to understand your needs.
We help ensure you receive the maximum benefit available under your policy.
We keep you informed throughout the claims process.
We can also advise on accident prevention and risk management solutions. Statistical information is provided quarterly, helping identify emerging trends and potential solutions that may help prevent similar incidents in the future.
Specialist support from people who understand pharmacies
Chemistshield is supported by AE Insurance Brokers Ltd, which was established in 1982 and specialises in insurance broking and risk management services for small and medium-sized businesses.
In addition to insurance broking, its services include health and safety advice, loss prevention surveys and business continuity planning, with additional charges potentially applicable for these services.
The team provides a personalised service through dedicated, experienced and qualified staff. AE Insurance Brokers Ltd is authorised and regulated by the Financial Conduct Authority.
Insurance that keeps pace with your pharmacy
The risks faced by retail pharmacies continue to evolve as pharmacy businesses expand the services they provide. Chemistshield’s specialist approach is designed to provide flexible, comprehensive protection that can be adapted to the requirements of individual pharmacies.
And if the unexpected happens, our dedicated claims team is there to provide experienced support when you need it most.
For more information about Chemistshield’s comprehensive pharmacy insurance package, speak to our specialist team to discuss your requirements.
www.chemist-shield.co.uk
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