Customers who have a Pharmacover or Commercial Combined policy with NPA Insurance Ltd already benefit from an automatic 25% seasonal uplift to Stock and Deterioration of Stock (fridge lines) sum insured between October and January. However, if you have a large delivery of expensive vaccines or weight loss medication into the pharmacy, the sum insured might not be enough.
Lisa Banks, MD of Pharmacy Insurance explains;
“I recommend that you check your policy schedule to see if your current amount of cover is sufficient with the automatic 25% seasonal uplift and, if not, contact our friendly Insurance Service Centre, who will be able to increase your cover for the flu season. One member contacted us recently because they were taking delivery of £80,000 of flu vaccinations for the 4-month period and nearly £250,000 of weight loss medication. Clearly the automatic 25% uplift was not enough, and we were able to offer cover for this increase in stock for a very reasonable additional premium. As the NPA’s insurance company, we pride ourselves on our ability to adapt and flex to pharmacies’ ever-changing needs. Vaccination services are now a core part of Community Pharmacy, and we want to ensure that our general insurance cover is agile and allows for the fluctuations in pharmacy stock at this busy time.”
For further information and advice please contact the NPA Insurance Service Centre at: [email protected] or call 01727 800 410
