The former president of the Indiana Board of Pharmacy and Walgreens are under investigations for $100M project. William J. Cover worked for Walgreens as corporate manager for pharmacy affairs but also served as president of the Board of Pharmacy in Indiana. During this time it’s alleged violated ethics codes when he pushed state officials to meet with his employer across the border in Illinois to push through the project rather than recuse himself from the project.
The full story is available here.
The investigation brings about an insurance issue many pharmacies ignore, coverage for regulatory investigations. Most pharmacies are concerned about lawsuits for bodily injury brought under either professional liability (malpractice) or general (products) liability, many of those would be shocked to learn that this is not comprehensive coverage. Director’s and Officer’s coverage is generally bought to protect against lawsuits from investors and creditors but many policies contain coverage for regulatory investigations and their ensuing costs.
Defending your organization from even the smallest of investigations can be catastrophically costly. Contact PharmacyLiability.com to discuss protecting your directors and officers from the costs of regulatory proceedings.