Overview of the Program From Atlantic Risk Specialists, Inc./ARS-Latiff, LLC
The National Pharmacy Insurance Program is an exclusive offering from Atlantic Risk Specialists, Inc./ARS-Latiff, LLC, designed specifically for retail and compounding pharmacies across the United States. This comprehensive solution provides vital liability protection tailored to the risks your pharmacy clients face every day—whether they’re compounding customized medications or operating multiple retail locations.
Ideal Accounts and Appetite
This program is crafted for a wide range of pharmacy operations, including:
- Independent and chain retail pharmacies
- Compounding pharmacies (sterile and non-sterile)
- Pharmacies providing delivery or mail-order services
Pharmacies with PCAB certification may qualify for additional discounts, making this program even more attractive for high-quality operators.
Example fit: You may have a client operating a multi-location retail pharmacy that also offers compounding services. They need reliable protection for professional liability, general premises exposures, and product-related risks. This program is built to meet those needs.
Coverage Highlights and Advantages
Professional Liability: Covers professional services, including compounding activities.
- $1,000,000 Each Claim / $3,000,000 Aggregate (Higher limits of $2M/$4M available)
General Liability (Including Products & Completed Operations)
- $1,000,000 Each Occurrence / $3,000,000 Aggregate
Additional Coverage Features:
- Defense Outside the Limits (within policy aggregate)
- Medical Payments: $5,000 per injured person / $250,000 for all insured persons
- $50,000 for damage to premises rented to you
- Personal and Advertising Injury Liability
- Additional Insured endorsements for landlords, sponsors, or lessors
- Data breach and privacy liability, including breach mitigation expenses
- HIPAA-related exposures
Prior acts coverage, higher deductibles, and increased limits may be available for an additional premium.
Underwriting Notes and Minimum Premiums
All coverage is written on a claims-made basis through an A-rated carrier. The minimum premium starts at $3,500, making it a competitive option for small to mid-sized pharmacy operations. Underwriting is highly focused on risk quality, and additional credits may apply for certifications and well-managed operations.
Territories and Availability
This non-admitted program is available in all 50 states and the District of Columbia, including but not limited to CA, FL, NY, TX, and IL. Atlantic Risk Specialists offers nationwide reach with the specialty expertise needed to properly assess pharmacy-related risks across diverse jurisdictions.
Why Work With Atlantic Risk Specialists, Inc./ARS-Latiff, LLC
Atlantic Risk Specialists is a Managing General Agency and Excess & Surplus Lines Broker with deep industry knowledge and a commitment to service. With exclusive access to this pharmacy program and a proven track record in complex risk placement, ARS is your go-to partner for placing pharmacy-related liability risks. You’ll benefit from specialized underwriting, market access to A-rated carriers, and responsive service that helps you close more accounts.
Frequently Asked Questions
What types of accounts are a good fit for this program?
This program is ideal for independent and chain retail pharmacies, compounding pharmacies (both sterile and non-sterile), and pharmacies offering delivery or mail-order services.
Is coverage available nationwide?
Yes, the program is available in all 50 states and the District of Columbia through a non-admitted A-rated carrier.
What are the minimum premiums?
The program starts at a minimum premium of $3,500, with pricing based on specific risk characteristics and limits selected.
Are PCAB-certified pharmacies eligible for discounts?
Yes, pharmacies with PCAB certification may qualify for additional premium discounts.
What additional coverages are included?
Coverage includes data breach and privacy liability, HIPAA-related exposures, and endorsements for additional insureds such as landlords or sponsors.
Need help placing an account? Connect with a market specialist.