NPA Insurance is offering an extended cover for pharmacists who conduct wholesale dealings.
This extension to the Pharmacy Indemnity policy is available now as a response to the repeal of section 10 (7) of the Medicines Act (widely known as the 5% rule) which previously allowed pharmacies to wholesale medicines in some circumstances without a wholesale dealer's licence (WDL). The Human Medicines Regulations 2012, which are expected to come into place on August 14, mean that pharmacists who want to carry out wholesale trading on a commercial basis will need a wholesale dealing license.
As is currently the case, NPA members whose small-scale trading falls within the MHRA’s new criteria are automatically covered under their Professional Indemnity and Legal Defence policy. Those who are working within the MHRA advice but trading more significant volumes should consult the NPA for advice on their particular circumstances. Members who wholesale and require a WDL can now extend their existing policy to cover their wholesaling activities.
Paul Coleman, Managing Director of NPA Insurance said:
"This is a significant and potentially onerous development for pharmacists and we are pleased to be able to offer NPA members a simple solution for their ongoing protection. We would encourage our members to make sure that when the Human Medicines Regulations 2012 come into play that they are operating within the new regulations and that they have the correct insurance cover. Those who only supply to other healthcare providers or make small-scale supplies to other pharmacies that meet the MHRA’s new criteria will continue to be covered through their existing Professional Indemnity policy. For those whose commercial dealings necessitate a WDL, we have a range of coverage dependent on the nature and scale of the business. It is very simple to set up and our team are on hand to offer any guidance or advice around next steps”.
For further information about the packages available, visit www.npainsurance.co.uk/wholesalepi or call 01727 858687.
The NPA Pharmacy Services department has produced guidance on how to deal with the repeal of section 10 (7). NPA members can download the resource by visiting www.npa.co.uk. The department will be working in the coming weeks to assess the impact of the new regulations and will produce additional resources as necessary.
The NPA Pharmacy Indemnity policy automatically covers trading up to 5% of turnover. This is a contractual insurance arrangement and does not reflect or relate to legal requirements.
