PharmaCover Insurance & Group Benefits Products

Insurance and group benefits designed for pharmacy owners, pharmacists and pharmacy employees

PharmaCover provides comprehensive insurance and benefits options that are built with today’s pharmacies in mind. Whether you’re a pharmacist or a pharmacy owner with one store or twenty stores, you benefit from being part of a large group plan. You can expect more coverage, more customized advice and consultation—all at competitive rates.

With our products, you get peace of mind; when you’re properly protected, you don’t have to worry about claims that cause financial losses due to an under-insured policy.

PHARMACISTS & PHARMACY EMPLOYEES

PharmaCover Insurance

Professional/Malpractice Liability insurance for pharmacists?

Our professional/malpractice liability insurance gives you comprehensive protection at a competitive rate. Essential protection against liability for allegations of damages resulting from negligent acts, errors and/or omissions arising out of your profession. This coverage is mandatory for licensed pharmacists in Canada.

Group home and auto insurance for pharmacy owners and employees

Pharmacy owners and their full-time employees can purchase their home and automobile insurance for significantly less than regular insurance rates—at no extra cost to you. This benefit is available to you and your employees simply for being a part of The Medicine Shoppe, Remedy’sRx, Guardian and I.D.A. and/or the McKesson Canada Distribution for Retail Pharmacies group.

PHARMACY OWNERS

PharmaCover Insurance

Commercial business insurance

Coverage tailored to the unique needs of the retail pharmacy includes “all risks” protection for:

• ​”Total Stock Loss” – an exclusive coverage to PharmaCover. PharmaCover spent a great deal of time assessing previous claims incidents with some of your colleagues and designed a specific wording to cover pharma-stock not specifically damaged by a covered peril in the event of a claim. This program advantage will be explained to you at time of quoting – you will recognize better coverage than with other programs.
• Business interruption.
• Equipment breakdown.
• Electronic data processing (EDP), data and media, accounts receivable and valuable papers.
• Crime including employee dishonesty, broad form money and securities.
• Earthquake, flood and sewer backup.
• Cyber liability coverage is also available and strongly recommended.

Whether a retail pharmacy or an individual pharmacist – PharmaCover can help you rest easier so you can focus on helping others!

PHARMACY OWNERS

PharmaCover Group Benefits and Other Personal Insurance (Life, Disability, Critical Illness)

Our comprehensive group benefits and insurance coverage saves you money and gives you enhanced coverage that isn’t readily available elsewhere in the marketplace. No matter where you are or how big or small your pharmacy is, we have a plan that’s right for you.

PharmaCover Custom, PharmaCover Traditional and PharmaCover Flex

PharmaCover Custom

This custom plan is designed for larger pharmacy groups. PharmaCover Custom provides custom-designed benefits, built-in cost containment and many value-added features. If you have 10 or more employees within your pharmacy group, we can custom design a plan for you—most likely for less than you’re paying today!

​PharmaCover Traditional

PharmaCover Traditional offers three simple packages for smaller pharmacies including basic coverage, more comprehensive coverage and a more generous comprehensive benefits plan.

PharmaCover traditional group benefits plans include:

• PharmaCover Ultra.
• PharmaCover Extra Strength.
• PharmaCover Regular Strength.

When you talk to us, we go over the coverage associated with each plan so you can decide what’s right for your business and employees.

PharmaCover Flex: The BeniPlus Benefit Wallet

Through our special arrangement with BeniPlus and the Benefit Wallet, PharmaCover Flex offers pharmacies the ultimate in flexible spending accounts with best-in-class, low administrative fees. The PharmaCover Flex BeniPlus Benefit Wallet is a healthcare spending account, wellness spending account and group RRSP, all wrapped in one simple, flexible and affordable package.