The Ontario Broker - Volume 21, Issue 6 - 31

INTERESTING NICHES | PHARMACIES
With Lindsay Trimble-McCaslin Horne Insurance Brokers
M
cCaslin Horne is a family run brokerage pursuing the
pharmacy market in Ontario and across Canada. They
offer retail pharmacy store insurance, professional
liability and life and health insurance products.
How much of your book is pharmacy clients? Would you say
your brokerage is one of the leaders in this space?
We decided to exit the personal lines space a few years ago to focus
on our pharmacy programs. Our book is now 90-95% pharmacy
clients. In Ontario, we're one of the leading brokerages for retail
pharmacy insurance and professional liability for pharmacists and
technicians. We're licensed across Canada (except Quebec) and we're
gaining clients from other provinces.
What are some unique challenges to insuring these clients?
The scope of practice for pharmacists and technicians is constantly
evolving, which requires us to keep on top of trends within the
pharmacy industry to make sure our clients are properly covered
and our professional liability product complies with multiple
Provincial College requirements. We also find that as pharmacies
try to differentiate themselves from their competitors, they may
provide non-traditional retail pharmacy services like focusing on
compounding medications or offering a walk-in clinic-with these
different services come different risks and coverage needs. We've
also begun focusing on cyber insurance coverage as the healthcare
industry is often a target for cyber criminals.
" Pharmacies' important role in public
healthcare was highlighted as many
opened their doors to provide Covid-19
vaccine clinics in their communities. "
Are there any unique coverage features?
Our professional liability product is occurrence based and offers
unique features like prior acts (back to the pharmacist's original
licensing date), expanded US territory coverage, coroner's inquest
and legal expense coverage for college disciplinary hearings. The
store package includes a pharmacist professional liability extension
to protect the pharmacy in the event it's named in a legal proceeding
involving malpractice. It can also include coverage for delivery vehicles,
home healthcare installations and compounding medications.
What are some common claims issues they face?
Pharmacies tend to be targets for break-ins due to the narcotics
and controlled substances on their premises. Unfortunately, access
to these substances has also led to employee dishonesty claims,
especially when a pharmacy owner owns multiple locations and isn't
always present at the pharmacy. On the professional liability side,
we see dispensing errors that either involve an investigation by the
college and/or a civil suit brought by the injured patient.
What are some ways the pandemic has impacted coverage in
this space?
Fortunately, pharmacies have been considered essential during the
pandemic. Their important role in public healthcare was highlighted
as many opened their doors to provide Covid-19 vaccine clinics
in their communities. It was a very busy time for us in the spring
answering coverage questions about providing the Covid-19 vaccine.
Do you do something specific to target this segment?
We've partnered with a number of pharmacy banners, associations
and pharmacist groups which not only brings attention to the
products we offer but also keeps us up to date with what's happening
in the pharmacy industry. We strive to have a presence at pharmacy
related trade shows and events, whether in-person or virtual. We're
undertaking some exciting digital advertising initiatives and hope to
grow our reach even further.
VOLUME 21 | ISSUE 6
31
The Ontario Broker - Volume 21, Issue 6

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