Industry sector:

Pharmacy: Insurance

When you start up in business you will need insurance cover. Contact an insurer and explain to him or her exactly how your business will operate - they will then recommend what cover you should have. This might include:

  • professional indemnity insurance (don't forget to cover online pharmacy services if you intend to offer them)
  • premises, premises contents and stock
  • goods in transit (for example, on the way back from a cash and carry)
  • cash
  • business interruption
  • employers liability
  • public liability
  • motor insurance (for collection/delivery vehicles)

Premiums may be paid in a lump or they may be paid in instalments. Your insurer will be able to advise you of the amounts due - enter them in the months when you will pay them.

The National Pharmacy Association (NPA) offers a range of insurance services tailored to the needs of pharmacists. Full membership of the NPA includes pharmacy professional indemnity insurance and public liability cover. Visit the NPA website for details.