Personal professional liability insurance
All pharmacists registered in the General and Provisional registers, pharmacy technicians, and students are required to obtain and maintain personal, professional liability insurance while registered with the PEI College of Pharmacy. In accordance with section 14 and 40 of the Pharmacist and Pharmacy Technician Regulations, the professional liability insurance policy must meet the following requirements:
- be issued by an insurer authorized to conduct business in Prince Edward Island;
- be issued in the name of the individual insured;
- apply to any practice setting in Prince Edward Island;
- have a policy limit of not less than $2,000,000.00 per claim or occurrence and an aggregate limit of not less than $2,000,000.00, excluding legal or court costs;
- cover liability for any professional service the member may be authorized to provide under the regulations;
- allow an extended reporting period of at least three years in the case of a claims-based policy and have a minimum retroactive date of five years in the case of an occurrence-based policy;
- have a maximum deductible of $5,000.00 per claim;
- include a term to the effect that the insurer will notify the PEI College of Pharmacy if the policy is cancelled, expires, or ceases to meet the requirements of the regulations;
- include a term to the effect that the policy continues in force in conformity with the regulations until the notice required by 7 is received by the PEI College of Pharmacy.
It is the responsibility of each member to ensure that their personal, professional liability insurance policy meets the requirements noted above and the up-to-date certificate is filed with the PEI College of Pharmacy. Members may upload professional liability insurance certificates by selecting document upload in the member home page of the PEI College of Pharmacy website.
Members practicing without personal, professional liability insurance will be subject to complaints and discipline.