Royal Pharmaceutical Society offers professional liability insurance for members
The Royal Pharmaceutical Society (RPS) is proud to announce the launch of a new professional liability insurance policy, exclusively available to its members. The comprehensive and affordable insurance is designed to empower pharmacists to work confidently and deliver high-quality care, knowing they are protected.
Professional liability insurance, sometimes called 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. It ensures they can focus on providing the best possible care for their patients without concerns about potential liability.
Acting on feedback from its members, RPS has developed the policy to empower pharmacists and encourage portfolio careers and prescribing, which are covered by the policy as standard.
Research conducted by RPS in 2022 shows that over half of members haven’t switched provider in over a decade, as there are very few options in the market. A further 76% of those asked thought it was a good idea for RPS to offer professional indemnity insurance.
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.
The insurance is arranged by Aon, a leading global professional services firm, and was designed to meet the unique challenges and opportunities of pharmacy practice. The policy will be provided to members at cost, so RPS will take no profit but is providing it as part of its commitment to professional growth and patient care.
The cost of the insurance will be rolled into the overall membership price. This insurance package is not available to non-members.
Paul Bennett, RPS CEO, 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 said:
"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."
Find out more about RPS professional liability insurance.
Professional Liability Insurance is arranged by Aon UK Limited and underwritten by certain Underwriters at Lloyd’s led by Carbon Syndicate 4747. Aon UK Limited is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales. Registered number: 00210725. Registered Office: The Aon Centre, The Leadenhall Building, 122 Leadenhall Street, London EC3V 4AN. Tel: 020 7623 5500.