Understanding Insurance Options for Pharmacy Professionals

Why Insurance is Crucial for Pharmacists

The Oregon Board of Pharmacy requires pharmacists to maintain professional liability insurance, also known as errors and omissions (E&O) insurance. This type of coverage protects you in the event that a patient suffers an injury or illness due to your actions or advice. As a pharmacist, you have a significant amount of responsibility when it comes to dispensing medication and providing healthcare advice. Without adequate insurance, you could be held liable for any mistakes made during your practice.

In addition to E&O insurance, pharmacists may also want to consider other types of coverage such as professional indemnity insurance or malpractice insurance. These policies can provide additional protection in the event that a patient files a lawsuit against you.

What Types of Insurance are Available?

The Oregon Board of Pharmacy requires pharmacists to maintain professional liability insurance. However, there may be other types of insurance that you want to consider as well. For example, you may want to purchase business insurance or commercial auto insurance if you own a pharmacy or drive for work.

Some insurance providers offer specialized policies for pharmacists, which can provide additional coverage and support in the event of an unexpected situation.

How to Choose the Right Insurance Provider

When selecting an insurance provider, it's essential to research and compare different policies. Look for providers that have experience working with pharmacists and understand the unique challenges you face in your profession.

Don't be afraid to ask questions about coverage limits, deductibles, and any exclusions or limitations. Make sure you fully understand what is covered and what is not before making a decision.