Liability Insurance

[off2skl]

Any preferences out there between HPSO and Pharmacists Mutual? Coverage and cost seem to be the same.

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[clachan3]

I just started looking into liability insurance. The first thing I found was HPSO at APhAnet, and I also looked into Pharmacists Mutual after I saw your post. I'd agree that the coverage and cost are comparable. I probably go with HPSO since I had a little problem loading the Pharmacists Mutual website, and it looks like existing member will have to call to renew. I think we can manage our accounts online anytime at the HPSO website.
CC

 

[Old Timer]

As a staff pharmacist, or a chain or hospital employee, the ONLY value for liability insurance is they will pay for your lawyer. If you work for a chain or a large hospital, the chance of them bankrupting the parent and coming after you is negligible. That's why the premium is so cheap.

 

[clachan3]

As a staff pharmacist, or a chain or hospital employee, the ONLY value for liability insurance is they will pay for your lawyer. If you work for a chain or a large hospital, the chance of them bankrupting the parent and coming after you is negligible. That's why the premium is so cheap.

Thank you for your post, Old Timer! I went straight to the HPSO website to see if I can find anything. Here is what I found at http://www.hpso.com/customer/faqclaims.php3#2

I've been hearing more about healthcare providers facing disciplinary charges from their state licensing boards. Does my professional liability insurance pay for a lawyer for this type of hearing?
We are pleased to tell you that if you face professional disciplinary charges you are eligible for defense reimbursement under our policy. This coverage provides up to $10,000 for legal representation for covered disciplinary hearings as a result of covered license protection incidents (excluding the appeals process).

I did not find anything specific at the Pharmacist Mutual site.
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[pinkyrx]

Bumping this back up. Is HPSO a pretty reliable company? I would hope that they are since APhA recommends them. Anyone know of a better option?

They've got a special advertised for 50% off the annual premium for new pharmacists. (people who have graduated in the last 12 months actually)

Regular price is listed as $140/yr with limits up to 1 million for each claim and up to 3 million for aggregate.

Here's the website:
HPSO.com/newprac11

 

[Exubera]

I am kind of looking for one right now. Could anyone please share which companies that you go for? Any other companies other than these two?🙂

 

[pinkyrx]

I've been looking into this recently too. HPSO still provides that 50% discount for new graduates. I'm thinking Pharmacists Mutual would probably match it though.

I'm guessing you can't go wrong with either company, but I'm curious which one most people go with.

 

[FruitFly]

As a staff pharmacist, or a chain or hospital employee, the ONLY value for liability insurance is they will pay for your lawyer. If you work for a chain or a large hospital, the chance of them bankrupting the parent and coming after you is negligible. That's why the premium is so cheap.

I've finally come around to agreeing on this. Still, it's good piece of mind to have the insurance, even if it is to pay lawyer fees on one's own behalf.

 

[RxWildcat]

I'm a firm believer that the personal liability insurance is essential to have. I mean, what if there is some situation in the future and for whatever reason, your employer insurance doesn't cover you? Plus, its like 3 hours work to protect you the whole year. Definitely worth it IMO.

 

[RP911T]

I'm a firm believer that the personal liability insurance is essential to have. I mean, what if there is some situation in the future and for whatever reason, your employer insurance doesn't cover you? Plus, its like 3 hours work to protect you the whole year. Definitely worth it IMO.

Absolutely agree with you RxWildcat. Every pharmacist I have spoken with agrees with you as well. No reason why not to buy it.