The Royal Pharmaceutical Society (RPS) has launched a new professional liability insurance policy, designed to empower pharmacists to work confidently and deliver high-quality care, knowing they are protected.
Exclusively available to its members, the comprehensive and affordable insurance has been developed in collaboration with global professional services firm Aon.
RPS stated that professional liability insurance, also known as professional indemnity insurance or clinical indemnity, is essential for pharmacists to practice with assurance and provide the highest standard of patient care, regardless of setting, without concerns about potential liability.
The policy covers portfolio careers and prescribing as standard.
The decision to launch the policy follows feedback from RPS members and research conducted by the organisation in 2022.
The findings revealed that over half of the members surveyed had not switched their insurance provider in over a decade, as there are very few options in the market. Additionally, 76% supported the idea of RPS offering professional indemnity insurance.
RPS CEO Paul Bennet said: “The pharmacy landscape is changing rapidly. Advances in practice mean pharmacists are taking on expanded responsibilities to enhance patient care and we are proud to offer this new indemnity policy as part of our commitment to supporting their professional development and confidence.”
“By removing the barriers posed by uncertainty around liability, we aim to enable our members to practise at their full potential.”
“This insurance supports safer practice and reflects our dedication to supporting pharmacists to deliver the highest standard of care for patients."
Mark Riley-Pitt, UK head of health, social care and risk consulting, Aon added: “We have been pleased to collaborate closely with the RPS during the design of this insurance to ensure that it aligns with their members’ needs”.
The insurance will be provided to members at cost, with no profit made by RPS.
Existing RPS members (with some exceptions) will be covered wherever they work, whether or not they are prescribers, but can choose to opt out of the insurance.
New members will be offered the policy as part of their membership package.
This insurance package is not available to non-members.
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