Many pharmacists, particularly those working in the primary care sector work in portfolio careers. A significant number of them provide consultancy services to third party clients. These might be corporate clients – such as private commercial operators, they might be providing advisory services as members of an advisory board or they may be providers of training to others in primary care.
Often these consultancy services are solely related to clinical or primary care issues, however, they occasionally involve an element of commercial advice and therefore attract an element of commercial risk. For example, they may offer advice in a way which if an error occurs, may not cause harm to a patient, but it could cause the recipient of the service to lose income or incur unnecessary cost. In such a situation, those in receipt of the service may choose to pursue a consultant providing the advice for the refund of their losses and potentially even for the damage to their reputation. Some of the largest claims made against PDA members in the past have been related to ‘commercial risks’. The Business consultancy services extension provides protection to pharmacists who are providing consultancy services that may expose them to commercial risks.
This extension provides indemnity cover for commercial risks exposure as seen in business consultancy.
- You can choose £5 or £10 million indemnity cover.
*The insurance included with PDA membership is arranged and administered by The Pharmacy Insurance Agency (PIA) Ltd who are authorised and regulated by the Financial Conduct Authority (Register No 307063).