The Independent Pharmacy Contractors Network (IPCN) has today (June 2) launched its “new professional indemnity insurance” in collaboration with US business broker AssuredPartners, it has revealed.
The cover will offer “insurance solutions that address the specific challenges faced by pharmacies including liability coverage, property insurance and business interruption protection”, it said.
Other benefits include “competitive premiums negotiated through the IPCN’s collective strength” and “legal support and claims assistance”, it added.
Read more: Contractor WhatsApp group becomes ‘formal’ cooperative
Pharmacy owners must be paying IPCN members – membership costing £240 annually – to be eligible for the “tailored” insurance, IPCN co-founder and admin Sri Kanaparthy told C+D.
He added that “for many members”, the offering could save “as much as £3,000 a year compared to other providers – in this economic climate that kind of saving is huge”.
It comes as the National Pharmacy Association (NPA) last month revealed that it has reversed its previous multi-million-pound annual loss, thanks to surging insurance revenue and a “revised investment strategy”.
“Strengthening the sector”
“For years we’ve seen independent pharmacies stepping up [and] offering more clinical services, running private clinics, prescribing and responding to patient needs faster than ever,” Kanaparthy said.
“But one thing hasn’t kept up: the insurance,” he added.
“Most existing insurers just aren’t set up for how our sector is evolving [and] they’re still treating pharmacies like it’s business as usual,” he told C+D.
Read more: ‘Anti-competitive’ contract favours bricks-and-mortars, DSPs protest
“Actually, we’re delivering frontline care in new and advanced ways every day,” he said.
He stressed that the new insurance is “designed around what pharmacies actually do today – not what they used to do 10 years ago”.
“This partnership with Assured Partners isn’t just about lower premiums, it’s about recognising the direction our sector is going”, he said.
Read more: NPA profits swell 160% as insurance arm rakes in £2m
And IPCN director Dervis Gurol added that the announcement “underscores [the IPCN’s] commitment to strengthening the independent pharmacy sector”.
“By offering our members bespoke insurances that are industry specific, we’re reinforcing our dedication to supporting independent pharmacies not just in business, but in every aspect of their professional journey,” he said.
AssuredPartners UK Healthcare office head Paul Coleman added that the broker will “work closely with IPCN to ensure their members have access to the highest quality, modern insurance coverage”.
Who are the IPCN?
In April, the IPCN submitted a complaint to the Competition and Markets Authority (CMA) “regarding a suspected anti-competitive agreement between the Department of Health and Social Care (DH) and Community Pharmacy England (CPE)” in the 2025/26 funding deal.
The body wrote to the competition authority warning that the new pharmacy contract “significantly distorts fair market conditions by favouring bricks-and-mortar pharmacies”.
Read more: NPAI claim raised after weight loss patient had gallbladder removed
Earlier that month, the IPCN also announced that it had “formally incorporated” as a fledgling cooperative organisation to be a voice for independent contractors.
What started as a WhatsApp group set up as a “supportive network” for community pharmacists a decade ago now has around 400 contractors in its network, it said.
It says that as most of its members own one or more pharmacies, this represents around 1,000 independent pharmacies.
