(June 2020)
This form should be useful for documenting the differences among companies that offer individual pharmacists professional liability policies. It can be used to record special endorsement limits, exclusions, other improvements, or any restrictions that apply.
Using this chart is not a statement of coverage; it is a tool to help you and your client understand key differences. It is important to note that it will not highlight every difference that could impact coverage.
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COVERAGE
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GENERIC |
COMPANY
A |
COMPANY
B |
COMPANY
C |
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INSURING
AGREEMENT |
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Legally obligated due to professional
pharmaceutical services |
Yes |
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Claims-made basis |
No |
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Defense inside policy limits |
No |
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Insurance company duty to defend ends when limits exhausted |
Yes |
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Right to consent to settlement |
No |
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All claims from same occurrence/offense are a single claim |
Yes |
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Excess over other available insurance |
Yes |
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EXCLUSIONS |
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COMPANY
A |
COMPANY
B |
COMPANY
C |
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Dishonest, criminal,
or malicious acts or omissions |
Yes |
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Fines or penalties |
Yes |
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Fellow employee while working together |
Yes |
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Ownership interest in pharmacy |
Yes |
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Expected or intended |
Yes |
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Contractual liability |
Yes |
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For the actions of fellow employee or fellow member of
association member |
Yes |
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Damage to property of employer or fellow employee |
Yes |
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Aircraft, watercraft or
watercraft related |
Yes |
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Professional services other than pharmaceutical |
Yes |
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Manufacturing operations |
Yes |
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Violations of regulations or statutes |
Yes |
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Filling prescriptions over phone without physician having
relationship with patient |
Yes |
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Compounding of drugs that had been withdrawn due to
safety concerns |
Yes |
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Certain Personal Injury/Advertising exposures |
Yes |
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Abuse and molestation |
Yes |
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SUPPLEMENTARY PAYMENTS |
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COMPANY
A |
COMPANY
B |
COMPANY
C |
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Court costs |
Yes |
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Insurance company costs |
Yes |
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Loss of earnings when assisting insurance company |
Yes |
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Prejudgment interest prior to offer |
Yes |
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LIABILITY LIMIT |
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Occurrence |
Yes |
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Aggregate |
Yes |
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WHO IS AN INSURED |
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COMPANY
A |
COMPANY
B |
COMPANY
C |
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Only the Named insured |
Yes |
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DEDUCTIBLE |
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COMPANY
A |
COMPANY
B |
COMPANY
C |
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Per claim basis |
Yes |
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DEFINITIONS (NOT COMPLETE) |
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COMPANY
A |
COMPANY
B |
COMPANY
C |
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Covered Pharmacy Services · The process of filling prescriptions starting with reading and interpreting orders, evaluating those orders, preparing the prescription, and dispensing it · Assistance in selecting drugs and devices · Administration of drugs · Reviewing drug regimens along with consulting and counseling related to drugs or medical devices · Any research related to drugs · Compounding but not manufacturing · Storing drugs and devices · Documentation related to drugs and devices All services that the named insured performs legally that are considered professional in nature. Pharmaceutical care is one of many services. |
Yes |
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Pharmacy services do not include administration of drugs and devices for purposes that are only cosmetic in nature. |
Yes |
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Compounding The mixing of various items together to make a drug because of one or more of the following: · A prescription from a medical provider who has a relationship with the patient and the pharmacist · Research, teaching, or chemical analysis that is not to be sold or dispensed · A prescription for a drug from a medical provider that will administer that drug to a patient · A drug made up in advance based on anticipated orders within U.S. Pharmacopeial Convention guidelines. A compound can also be available as a commercial product but only when it is different from a drug available from other sources or it is a drug that is needed immediately but is temporarily unavailable from other sources. It must be based on a prescription from a medical provider who has a relationship with a patient and the pharmacist. |
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Underlying Insurance Coverage
available to cover the named insured’s professional liability. It includes an
insurance policy, risk retention group, or self-insurance program that
provides pharmacists professional liability held by the named insured, its
employer, or any other entity. Retentions or deductibles in those policies or
programs are also considered underlying insurance. |
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ENDORSEMENTS |
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COMPANY
A |
COMPANY
B |
COMPANY
C |
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