Pharmacy (Store) Insurance

The pharmacy (store) insurance program from the Ontario Pharmacists Association provides a flexible way to protect your retail store and dispensary property, plus your liability exposures, in one seamless, customizable package. Our program was prepared by one of the foremost experts in the industry and includes some of the most comprehensive coverage available.

What is pharmacy (store) insurance and why do I need it?

As a business owner, it is crucial that you protect your assets and your means of doing business from the various risks and losses that could arise. The Ontario Pharmacists Association’s pharmacy (store) insurance program provides a flexible way to protect your retail store and dispensary property and your liability exposures in one seamless package. It consists of coverage in five areas.

  • Property insurance protects you against building losses if you are the owner or are responsible to insure it as a tenant. It also protects you against losses of stock, equipment, and merchandise, and provides coverage for such things as glass breakage, loss of revenue, and equipment breakdown.
  • Liability insurance protects you against legal responsibility to others injured through your business activities or damage to their property.
  • Professional liability for the pharmacy (the Entity) covers your or your employees’ negligent acts, errors, or omissions.
  • Crime coverage protects you against losses due to hold-ups, break-ins, counterfeiting, forgery, and dishonest acts of your employees, up to the applicable policy limits.
  • Boiler and machinery insurance provides coverage against the breakdown or explosion of units not usually covered in property policies and includes both direct damage and business interruption coverage.

Disclaimer
Members of the Ontario Pharmacists Association who participate in this program are insured under a certificate that is drawn under a master policy that is issued to the OPA on their behalf. The descriptions that are set out above are for purposes of summary description only. As with any insurance policy, the master policy wording must be considered paramount, since it alone contains all terms, definitions, exclusions, and conditions that govern the manner in which the coverage will be applied. A certified true copy of the master policy can be accessed under the Forms tab by policy custodian.

Why should I choose the Ontario Pharmacists Association’s pharmacy insurance?

There are many reasons to trust the Ontario Pharmacists Association for your pharmacy insurance.

This insurance program has been carefully tailored to meet the requirements of pharmacists and can be customized to best suit your individual needs.It was developed by a leading Canadian insurance expert and is considered the gold standard. That means you can be confident that you have the most reliable and thorough program available.

Because our program is underwritten by RSA, managed by HUB International HKMB, and administered by the Ontario Pharmacists Association, you receive professional, personalized service from us. If you have questions about your coverage, or if you ever need to make a claim, we’re here to help.

Plus, as an RSA customer and member of OPA, you can earn one AIR MILES® reward mile for every $20 in premium (including taxes) on your pharmacy insurance policy

How much coverage will I have with your pharmacy insurance program?

If you are a member of OPA, you can view a full list of insurance coverages and limits in the next drop-down.

If you are not an OPA member and would like to inquire about the coverage and limits of each specific type of coverage within the pharmacy insurance program, please contact the Ontario Pharmacists Association:

Phone: 416-441-0788 option 2 or 1-877-341-0788, option 2
Fax: 416-441-0474
Email: Insurance

Plan coverages and benefits

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Who manages the pharmacy (store) insurance program?

The Ontario Pharmacists Association’s pharmacy (store) insurance program is managed by HUB International HKMB, a part of HUB International Limited, a top 10 global insurance brokerage and the largest insurance broker in Canada. HUB International HKMB offers a full spectrum of insurance and related services to a large and diverse client base located around the world.

Who underwrites the pharmacy (store) insurance program?

The Ontario Pharmacists Association’s pharmacy (store) insurance program is underwritten by RSA.

Who administers the program?

The premium collection is administered by OPA’s insurance department, which provides personal customer service dedicated to meeting your needs.

Who oversees the program?

The program is overseen by the Ontario Pharmacists Association insurance department.

Who do I contact for more information or forms?

For more information or forms, contact:

Ontario Pharmacists Association
Phone: 416-441-0788 option 2 or 1-877-341-0788, option 2
Fax: 416-441-0474
Email: Insurance

How can I obtain a quote?

Download and complete a pharmacy insurance application

Quotations are based on details provided on the completed pharmacy insurance application. Completed applications may be sent, by mail, fax, or email to:

Ronica Pope
Customer Service Representative
HUB International HKMB
595 Bay Street, Suite 900, Box 81
Toronto, ON, M5G 2E3
Fax: 416-597-2313
OPA dedicated phone: 1-855-OPA-7-OPA or 1-855-672-7672
Email: opa@hubinternational.com

Upon completion of the pharmacy insurance application, you will be provided with an estimate for coverages. This estimate will be based on the accuracy of the information provided. HUB International HKMB will contact you with an insurance proposal within two business days of receipt of the fully completed application. Applicants who request quotations on existing policies will receive an estimate for coverages no sooner than 60 days prior to the expiry of the existing coverage.

By obtaining this estimate there is no obligation to purchase an insurance policy. Coverage will be effective once the terms and conditions of the policy are accepted by the applicant. Acceptance should be acknowledged by fax or email to HUB International HKMB. If evidence of insurance is required (i.e. for landlord, lessee, or mortgagee), include the name and address of the individual/company with the acknowledgement sent to HUB International HKMB.

How do I apply for coverage?

Send your fully completed pharmacy insurance application by mail, fax, or email to:

Ronica Pope
Customer Service Representative
HUB International HKMB
595 Bay Street, Suite 900, Box 81 
Toronto, ON, M5G 2E3
Fax: 416-597-2313
OPA dedicated phone: 1-855-OPA-7-OPA or 1-855-672-7672
Email: opa@hubinternational.com

Coverage will be effective once you (the applicant) accept the terms and conditions of the policy. Acceptance should be acknowledged by fax or email to HUB International HKMB. If evidence of insurance is required (i.e. for landlord, lessee, or mortgagee), include the name and address of the individual/company with the acknowledgement sent to HUB International. HKMB

HUB International HKMB will mail the certificate of insurance and invoice upon receipt of the applicant’s acceptance.

Premium payment is to be sent to OPA, since premium collection is administered by the Association.

What forms of payment do you accept?

You may pay premiums by Visa or Mastercard (with additional two per cent processing fee), cheque or money order, payable to the Ontario Pharmacists’ Association.

How do I find information about property insurance valuation?

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How do I make a claim?

During working hours — report all claims to:

Adelaide Marquardt
HUB International HKMB
Phone: 416-597-0555, ext. 378
Toll-free: 1-800-232-2024 ext. 378
Fax: 416-597-6811
Email: adelaide.marquardt@hubinternational.com

After hours and on weekends — report all claims, except professional liability claims for the pharmacy, to the pharmacy insurance adjuster SCM ClaimsPro and identify yourself as an OPA member.

After hours/weekend contact:
SCM ClaimsPro
Phone: 1-866-600-2841

Additional claim details

For claims involving property, boiler and machinery, crime, liability, or a pharmacist's professional conduct at your pharmacy:

  • Notify appropriate authorities. Before a claim can be settled, the insurer will need to review official police or fire investigators’ reports. A file or occurrence number from the relevant authorities will assist the loss adjuster in obtaining information more quickly.
  • Prevent further loss. If possible, damaged property should be put aside for examination, and undamaged property should be protected in the best way possible. For example, if a window has been broken, the openings could be covered with plywood or plastic; if locks have been broken, a locksmith should be contacted to replace them immediately.
  • Notify HUB International HKMB by telephone immediately. Information should be provided, in as much detail as possible, as to what happened. The faster a claim is reported, the faster it can be processed. The phone call should be followed up with written confirmation as soon as possible.
  • Prepare a schedule of loss. A complete list of missing or damaged property should be made as quickly as possible following an incident.
  • Document losses. For every item on the list, proof of its value is required. Purchase orders and invoices are the best sources of this information. The adjuster will need complete documentation for all items, and if cash has been taken, a copy of the till roll and banking records will be required to document the loss. Drug losses must be substantiated by a copy of the drug inventory form required by Health and Welfare Canada’s Bureau of Dangerous Drugs.

For claims involving liability at your pharmacy:

  • If someone has been injured, first aid should be administered and an ambulance should be called. If someone is in distress, quick action in securing assistance is key.
  • Sympathy may be expressed but statements should not be made about who appears to have been at fault. Many injury claims are made because people were angry that they were treated poorly after an incident.
  • Liability should not be admitted and compensation should not be offered. Often a claimant’s own actions are a contributing factor in incidents involving bodily injury or property damage in retail stores. If liability is admitted, the insurer’s ability to defend the claim may be damaged and, in certain circumstances, this may void the insurance coverage.
  • HUB International HKMB should be notified by telephone immediately. Information should be provided, in as much detail as possible, as to what happened. The faster a claim is reported, the faster it can be processed. The phone call should be followed up with written confirmation as soon as possible.
  • All important information about the incident or allegation should be documented. The insurer may be assisted in defending the liability action if they are provided with the names and phone numbers of all claimants and witnesses. The date, time, and other pertinent information, such as weather conditions, should also be noted. Taking pictures or drawing a sketch of the part of the pharmacy where the incident is alleged to have occurred will also assist in handling the matter.

For claims involving professional liability or pharmacist’s professional conduct, notify HUB International HKMB by telephone immediately:

  • if any indication has been received from a customer, doctor, or lawyer of ill effects suffered as a result of a dispensing error
  • if a demand letter from a lawyer or suit papers (statement of claim) have been received.

Responsibility should not be admitted or denied but sympathy may be expressed. It should be indicated that the matter will be investigated, but no mention of insurance should be made.

Please note:
As with any insurance policy, the policy wording itself contains terms, definitions, exclusions and conditions that govern the manner in which the coverage will be applied. The Master Policy is the paramount document for purposes of coverage interpretation. A certified true copy of the Master Policy can be accessed under the Forms tab by policy custodian.

What happens after I submit my claim?

After you submit your claim, you may be requested to supply additional information. This request may come from HUB International HKMB, SCM ClaimsPro, the insurance adjuster, or RSA.

Once your claims process is complete, you will be contacted by Adelaide Marquardt of HUB International HKMB with a resolution report.

This diagram represents what happens when you make a claim.

How do I access the master policy?

The pharmacy (store) insurance master policy is available to policy custodians under the Forms tab of this section.

Pharmacy insurance application form 

Property insurance valuation information

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Master policy

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Property Insurance Valuations

Spoilage of biologics resulting from failure of refrigeration

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“Occurrence” wordings versus “claims made” wordings

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Changes to the 2016 OPA Store/Pharmacy Insurance Program

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Property Insurance Valuations -  Insurance to Building Valuation Check-up

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