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Pharmacy insurance solutions

Help keep your pharmacy business running smoothly with insurance solutions from Marsh, including property, business interruption, liability and cyber coverage.

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Pharmacy insurance solutions we can arrange cover for

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Commercial property insurance

Physical store environments can be exposed to unexpected events such as fire, theft, or natural disasters. Property insurance can cover buildings, contents and stock, including refrigerated medicines, robotics equipment, and delivery of medicines.

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Business interruption insurance

An earthquake, storm, fire or flood can disrupt your pharmacy’s operations and income. Business interruption cover helps protect your revenue and covers additional costs and claims preparation fees to support your recovery.

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Public and product liability insurance

Pharmacies are exposed to a range of potential liabilities associated with their business activities including claims for bodily injury or property damage resulting from a pharmacy’s products or services.

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Cybersecurity insurance

As the use of prescriptions and digital health records increases, ensuring data protection and self-reporting becomes crucial for pharmacies. In the event of a cyber incident, having cybersecurity insurance can provide support and assistance.

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Management liability

Pharmacy owners can face claims related to alleged breaches of director duties or employment dispute. This cover combines directors and officers with employment disputes protection which can cover legal defence costs and any settlements or damages arising from claims.

What is pharmacy insurance and why do I need it?

Pharmacy insurance is a specialised business insurance package designed to address the key risk exposures faced by pharmacies.

Pharmacies face a variety of risks, including theft, property damage, and loss of income. And as pharmacies increasingly use digital health records, cyber risk and data breaches are becoming more common, requiring specialised protection.

Running a pharmacy can also expose directors and managers to claims such as employment disputes, alleged breaches of duty, liabilities related to products and services, as well as statutory and general liability.

We can help you navigate your pharmacy’s risks and create an insurance package designed for your risk profile.

Why choose Marsh

Marsh has been providing insurance and risk advice to pharmacies in New Zealand for over 25 years. Our pharmacy insurance solution is designed to meet the specific risk needs of pharmacies.

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We’ve got your back

You’ll have a dedicated client manager who advocates for your business at every step, working with you to understand your risks and help ensure your cover remains appropriate for your needs.

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Be part of a network

Join a large group of pharmacies that benefit from Marsh’s extensive buying power, helping you access competitive insurance options.

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Local expertise

Our New Zealand-wide network of brokers has spent years at the forefront supporting business owners manage their unique risks in a fast-changing market. They stay ahead of the latest local and global market insights and break down the jargon into your language. 

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Claims support

Handling an insurance claim can quickly become overwhelming, not least when your time is stretched to the limit keeping your business going in the backdrop. We can help take the load off and manage, negotiate and settle claims with insurers on your behalf.

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We understand pharmacy claims trends

We track pharmacy claims trends to help you identify where your business may be exposed and review whether your cover still meets your needs.

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Flexible insurance solutions

Planning to expand your business? Our flexible policies make it easy to grow your business without the need for a new insurance policy.

Why use a broker?

Choosing pharmacy business insurance means navigating through products, coverages and policy terminology, often with only a sales pitch to guide you. An experienced broker will spot your unique set of risks, match you to the right choice, and advocate for you on price.

We understand how pharmacies operate, as well as the concerns and priorities of their owners. Our team can support you from insurance placement through to claims management, with the goal to free up your time and headspace so you can focus on your business.

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Frequently asked questions

The cost of your business insurance depends on a few factors. These can include the:

  • Size of your business
  • Size of your workforce
  • Type of business activities you carry out 
  • Property you want to insure 
  • Location you operate from

Your insurer will also consider your fire and security protections, plus any claims history if you’ve had insurance before.

The level of excess you choose can make a difference too, with a higher excess potentially reducing your premium.

Request a call back from Marsh to get a personalised quote. 

Yes, we can provide a commercial fleet cover which protects any staff who drive the delivery car. 

With their access to sensitive patient information and increasing reliance on digital technology, pharmacies are a valuable target for cybercriminals.

Given the high stakes for your business and your customers’ privacy, we highly recommend cybersecurity insurance for pharmacy owners.

It’s wise to inform your broker of any changes to your business structure, including expanding or contracting the scope of your services and changes in business revenue.

If we’re kept in the loop, we can check whether your policy still covers your new service offerings. We may even be able to reduce your premium if your business revenue decreases.

Yes, your policy via Marsh will include coverage for natural disasters, this includes earthquake. You will be covered for damage to insured property such as your pharmacy’s stock of medicine, and retail items, as well as fixtures and equipment including fridges. If your pharmacy is unable to operate because of an earthquake, business interruption insurance will provide cover for loss of income.

Marsh Limited (NZBN 9429040918792)(“Marsh”) arranges the insurance and is not the insurer. This page contains general information and does not take into account your individual objectives, financial situation or needs. For full details of the terms, conditions and limitations of the covers, refer to the specific policy wordings and/or Product Disclosure Statements available from Marsh on request. This publication is not intended to be taken as advice regarding any individual situation and should not be relied upon as such. The information contained herein is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Marsh shall have no obligation to update this publication and shall have no liability to you or any other party arising out of this publication or any matter contained herein. Marsh makes no representation or warranty concerning the application of policy wordings or the financial condition or solvency of insurers or re-insurers. Marsh makes no assurances regarding the availability, cost, or terms of insurance coverage.

LCPA 26/NZ277