Insurance for Pharmaceutical Companies

Pharmacy insurance

Pharmacy Insurance Prescribed for Your Business

You’re passionate about helping people take care of themselves. And so are we. That’s why we offer customized coverage insurance for pharmaceutical companies made with you in mind so we can help protect your business from the unique risks you face.
Pharmacy insurance

Why Is Insurance for Pharmaceutical Companies Important?

Every pharmacy faces unique liabilities, as well as the risks that can come up during normal operations, such as:
  • Customer slip and falls
  • Data breaches
  • Car accidents
  • Employee injuries or illnesses
That’s why seguro de negocio for pharmaceutical companies is important. You can think of this coverage as a type of risk insurance that helps protect your pharmacy business in both the short-term and long-term.
Pharmacy business insurance

Who Needs Pharmacy Business Insurance?

  • Drug stores
  • Pharmacies
  • Apothecaries
  • Proprietary stores
  • Pharmaceutical companies and consultants
  • Online and mail-order pharmacies
  • Home-delivery pharmacies

What Types of Insurance Do Pharmaceutical Companies Need?

Getting the right type of insurance coverage is an important part of every business’ risk management plan. In fact, most businesses start with a Póliza para propietarios de empresas (BOP). It combines three essential coverages to help protect your pharmacy or drug store from claims arising from normal operations:
General liability insurance helps cover claims that your business caused bodily injury or property damage to someone else’s belongings.
Commercial property insurance, which helps protect your owned or rented building and equipment you use to run your pharmacy. This includes:
  • Scales
  • Shelves
  • Pills and drugs
  • Computer systems
Business income insurance to help replace your pharmacy’s lost income if you can’t open because of covered property damage.
The best way to find the right coverage is to compare quotes from multiple pharmacy technician insurance companies. To get started, obtener una cotización from us today. We’re an insurance company you can count on to provide customized coverage at an affordable price. So, whether you’re facing issues with supply chain shipments or property damages to your company, we’ve got your back.

Protect Your Pharmacy Business Property

You spend a lot of time and effort making sure you have the correct inventory and enough stock to fill prescriptions. If anything happened to the medication you have, it could affect your pharmacy’s operations. That’s why pharmacy insurance is important. It can help you get your pharmacy inventory back on track if there are any damages.
With the high cost of medication, it’s not uncommon for a pharmacy to carry over $1 million worth of inventory.3
Why Is Drug Store Insurance Important?

Damaged Medications

“Some of our vaccines and drugs need to be temperature controlled. When my refrigeration unit broke down, all of the stuff stored inside it was spoiled and had to be replaced.”
Our spoilage coverage can help protect your pharmacy’s property and inventory if you lose perishable stock due to equipment breakdown.
Errors and omissions pharmacy examples

Faulty Products

“My pharmacy has a store where customers can buy basic health necessities. We inventory our shelves often, but somehow missed an expired food item. When a customer ate it, they ended up in urgent care and sued us for their medical bill.”
Pharmacy liability insurance, like general liability coverage, includes product liability insurance. So, if your pharmacy sells a product that hurts someone or gets them sick, pharmaceutical product liability insurance can help protect your business.

Protect Your Pharmacy Business Operations

We know running a pharmacy is hard work. We also know that your business faces unique risks that other companies don’t. From data breaches to customer lawsuits, it’s essential to have the right pharmacy insurance to protect your business.
The average total cost of a data breach is $4.35 million.1
Pharmacy liability insurance

Pérdida de datos

“Someone hacked into the pharmacy’s computer system and stole our customers’ information. We had to notify every customer and offer identify theft monitoring services for a year.”
Nuestra página data breach insurance coverage helps businesses respond to a breach. If personal, confidential or sensitive information gets lost, this coverage can help pay the costs to notify impacted individuals and replace lost income. Some insurers call this coverage cyber liability insurance.
Pharmacy liability insurance cost

Inaccurate Advice

“Working in health care, it’s our job to give customers advice on how to improve their wellbeing. But recently, one of our employees gave inaccurate advice to a customer who ended up filing a lawsuit against us.”
Professional liability insurance is an important type of pharmacy liability insurance that can help cover errors and omissions in your products or services. It can help pay claims if your pharmacist gives inaccurate advice.

Protect Your Pharmacy Team

You rely on healthcare professionals like pharmacists and pharmacy technicians to help you run your business. Overtime, their daily tasks can lead to repetitive stress injuries. With pharmacy insurance, you can help protect your employees and offer recovery options from work-related injuries and illnesses.
Repeated, forceful movements to open medication bottles and awkward wrist and shoulder posture can lead to musculoskeletal injuries.2
Workers' comp pharmacy

Repetitive Stress Injury

“One of my pharmacy technicians developed shoulder pain after lifting boxes and stocking shelves. She was diagnosed with tendonitis and had to take a few days off to recover.”
Workers’ compensation insurance gives your employees benefits to help them recover from a work-related injury or illness. This insurance can help pay their treatment costs and replace some of their lost income.
Commercial auto insurance for pharmacies

Auto Accidents

“We offer a home-delivery service. During a storm, one of my drivers hydroplaned and ended up rear-ending another car. The other driver needed to go to the hospital to have his neck checked out.”
Commercial auto insurance can help protect your employees on the road if they drive for work. This coverage helps pay for claims if you hurt someone else or damage their property in an accident.
Drug store insurance

Here for You, 24/7

We try to work around your schedule. That’s why we offer your proof of insurance instantly online, whenever you need it.
Pharmacy liability insurance quote

Pharmacy Insurance That Has Your Back

Every pharmacy has its own unique risk profile. Get the protection you need to help keep your small business running successfully.
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Última actualización: 23 de septiembre de 2022
1 IBM, “How Much Does a Data Breach Cost in 2022?”
2 Centers for Disease Control and Prevention, Health Hazard Evaluation Program, “Ergonomic Evaluation of Pharmacy Tasks”
3 Time, “Why Does Medicine Cost So Much? Here’s How Drug Prices Are Set”
Divulgaciones adicionales a continuación.
The Hartford no será responsable de ningún daño relacionado con el uso de la información proporcionada en esta página. Consulte con su agente/corredor de seguros o compañía de seguros para determinar las necesidades específicas de cobertura, ya que el contenido publicado aquí se ofrece con fines informativos solamente.
La información contenida en esta página no debe interpretarse como asesoramiento legal, de Recursos Humanos, financiero o de seguros específico, y no es una garantía de cobertura. En el caso de una pérdida o reclamación, las determinaciones de cobertura estarán sujetas al lenguaje de la póliza, y cualquier pago de reclamación posible se determinará luego de que se investigue la reclamación.
Ciertas coberturas varían según el estado y es posible que no estén disponibles para todas las empresas. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc. listed in the Aviso legal.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, CT. For additional details, please read The Hartford’s Legal Notice.
* Los comentarios de los clientes son recolectados y tabulados por The Hartford y no representan a todos los clientes.