ApoRisk introduces all-risks business insurance for pharmacies
ApoRisk GmbH has launched PharmaRisk, a business insurance policy designed to consolidate pharmacy risks under a single contract to reduce operational costs.
BAD SCHÖNBORN, Germany – ApoRisk GmbH has introduced its PharmaRisk business insurance policy, aiming to lower operational costs for pharmacies by consolidating a wide range of risks into a single, comprehensive contract.
Developed by ApoRisk GmbH, an independent insurer for pharmacies, the policy addresses the growing competitive pressures within the pharmacy sector. The company states that the traditional approach of covering pharmacy risks through multiple individual insurance policies has often led to overlapping coverage, oversized policies, and ultimately, disproportionate costs relative to business performance.
The PharmaRisk insurance covers a broad spectrum of risks, including accidental damages that are not explicitly excluded. It encompasses third-party liability for personal injury, property damage, and particularly financial losses, such as product liability and rental property damage. Specific coverage is also provided for risks associated with the aut-idem regulation and breaches of data protection laws, along with personal liability coverage for owners and their families.
Furthermore, the policy protects against material damage and loss of earnings resulting from events like fire, burglary, equipment failure, short circuits, or natural disasters such as floods and earthquakes. Compensation for refrigerated medications in case of equipment malfunction is also included.
The insurance is underwritten by Basler Versicherungen, part of the Swiss Baloise Group. This all-risks insurance model is particularly beneficial for pharmacy chains with multiple locations, as the premium is calculated based on the total turnover of all branches, with a decreasing percentage rate as turnover increases. ApoRisk also offers more accessible entry-level options for pharmacies with lower revenue.