What are liabilities in pharmacy?
Pharmacists are professionals who are responsible for the prescriptions they fill for doctors. They carry liability insurance to protect them from malpractice suits in case of error or other incidents. There are times when a person has an adverse reaction to a medication prescribed to them.
What is the difference between claims made and occurrence?
An occurrence policy has lifetime coverage for the incidents that occur during a policy period, regardless of when the claim is reported. A claims-made policy only covers incidents that happen and are reported within the policy's timeframe, unless a “tail” is purchased.