Malpractice Insurance

Features of Your Malpractice Insurance

1) $2,000,000 coverage per occurrence and $2,000,000 annual aggregate for compensatory damages with no deductible.

This means each basic policy member pharmacists are entitled to $2,000,000 coverage if found guilty of a malpractice infraction. They are not required to pay any portion of the damages up to $2,000,000.

2) Supplemental coverage up to $5,000,000.

Pharmacy professionals can purchase additional malpractice coverage every year.  For $50 per million, pharmacy professionals can have additional liability coverage up to $5,000,000 for compensatory damages with no deductible. Pharmacy professionals must purchase this directly through the broker, Erin at erin@lifelinebrokers.com. 

What is an Occurrence Policy?

This means if the insurance was in place at the time the incident or “occurrence”, it is the subject of the professional liability claim. So, as long as the Insured had a current and valid policy at the time of the incident, coverage will be retroactive whether or not the policy is active today. 

Please note: A “Claims Made Policy” means that the malpractice insurance policy responds if it is in place at the time in which a claim for damages or other relief is made. In Saskatchewan pharmacy professionals who carry a claims made policy are required to purchase a minimum of 2 years of claims made insurance after they cease to practice.

3) Coverage is not restricted to only workplace errors or omissions.

With a valid /current policy, the Insured is protected in malpractice claims where professional pharmaceutical services may have been given in a non-traditional setting, for example, advice that is given in a social setting or outside of practice hours. Insured pharmacy professionals providing professional pharmaceutical services are covered anywhere in Canada.
Please note: Wynward Insurance Group can at any time, cancel a policy with 10 days’ notice.

4) Access to a $50,000 Legal defense costs endorsement.

Wynward Insurance Group agrees to defend, at its cost and subject to limitations, the Insured in any disciplinary proceeding. The cost can include legal fees related to disciplinary proceeding costs, a complaint or investigation or preliminary investigation, volunteer practice and pharmacy student supervision of the Insured before the applicable provincial College of Pharmacy Professionals.

Wynward Insurance Group reserves the right to appoint counsel of its choice to defend the Insured in any claim. Wynward Insurance Group will not be liable for any fines, penalties or costs levied against the insured by the applicable College of Pharmacists or be liable to defend the insured in any disciplinary proceeding in which it is alleged that the Insured committed or attempted to commit, directly or as a party, a fraudulent or criminal act.