License / registration is the last step in the licensure or registration process. The pharmacy regulatory authority (PRA) will confirm that you have successfully completed all of the requirements to be licensed. You will be charged a fee for your licence and you will need to renew your licence and pay a fee each year. The annual renewal fee may not be the same as the initial registration fee. You will also be required to purchase and maintain personal professional liability insurance coverage, which helps pharmacists pay legal costs in the event of a lawsuit.