Individual Professional Liability (Malpractice)
Professional Liability will protect and represent you if a malpractice claim is filed. When it comes to medical malpractice insurance, you have two coverage choices: Claims-Made or Occurrence. Claims-Made or Occurrence policies with limits from $1 Million/$3 Million to $5 Million/$7 Million are available. Coverage can be added to your policy for Botox/dermal fillers procedures as well.
Occurrence Or Claims-Made Coverage? Jerri explains in this video and tells you why she suggests selecting the occurrence coverage.
Occurrence vs Claims Made
Occurrence coverage doesn’t end when the policy ends. If someone files a claim against you, your Occurrence policy from the year of the incident will cover you.
Claims-made coverage ends when the policy ends, so you may have to buy tail coverage to stay protected for any claims made against you after the policy ends.
Click for information on occurrence vs claims-made.
MDIS has coverage specifically for oral surgeons that offers very reasonable prices with many options for limits of coverage. It can cover just you, or it can also cover your corporation.
Discounts Available
Depending on the carrier, your discounts can vary slightly. Jerri explains in this video.
New Graduates
New grads can get up to a 75 percent discount their first year out of dental school or in a residency program (if entered into directly after dental school). Also available is an additional discount your first year out if you were a member of ASDA while in dental school.
MDA Member New Grads, Free 1st Year MedPro Malpractice
Dentists new to practice who sign up to be MDA members may be eligible to get their first year of dental malpractice insurance at no cost, courtesy of the MDA. To qualify, you must plan to practice in Missouri, be in your first year of practice after dental school or residency program, and sign up for your malpractice coverage with MedPro through MDIS.
Moonlighting During Residency
While you are in a residency program a discount can be applied for moonlighting in a private practice.
Part-time Employment
When you are working only 20 hours or fewer per week, you are considered part-time employed and can get a discount on your policy. Anything more than 20 hours is considered full-time status.
Leave of Absence
Not practicing for a period of time could allow for a leave-of-absence discount. Events that qualify you for this discount would be maternity leave, long-term illness or military leave, to name a few.
Claim Free
Not having any claims can earn you policy discounts.
Risk Management
With MedPro you can get an additional policy discount by taking at least two of their free on-demand webinars. The webinars are one hour in length and completion earns you a 1 CEU for each.
What to Look for in a Malpractice Company/Agent
Consent to Settle
If it is not pure consent, without exception, then you can be losing control of a suit brought against you.
Occurrence or Claims Made
Are you given the option of having either an occurrence or claims made policy? Having the choice should be yours.
Financial Stability
Is the carrier financially sound and able to defend you when a claim is filed?
Defense
When you need a strong defense, do they use experts in malpractice defense; do they have a team of expert witnesses; and, what is their track record like in court and closing cases without going to court?
Risk Management
Is the carrier able to provide you with a risk manager (not a claims manager) in the event you need help with handling a situation before it becomes a bigger problem?
Specialized Service
Are you getting the expertise you deserve from your agent? Do they specifically work with dentists as MDIS does?
For more information regarding any coverages listed on this site, email or call 800-944-7550. This information is designed to provide a general overview with regard to the subject matter covered and is not state specific. The authors, publisher and host are not providing legal, accounting or specific advice to your situation. Request of a quote for coverage does not guarantee that coverage can be provided. Any misstatements or omissions of relevant information from a client can result in a price variation or even declination or rescission of coverage.
