Dental Practice & Professional Insurance
Protect your practice and mitigate liability with our industry – leading dental coverage.Mistakes are unavoidable in any profession but with an increasing exposure in today’s practice environment it’s leaving dental professionals vulnerable to financial and emotional stress. When mistakes happen in the dental profession, the losses can be both financially and emotionally catastrophic. Therefore, it’s very important for you to understand the risks associated with running a dental practice along with what types of insurance are needed to mitigate those risks.
Important coverage features
- Coverage available for all dental specialties.
- Claims-made and occurrence options.
- Coverage for dental assistants and hygienists at no additional cost.
- Cyber Security Protection
- Defense outside the limits of liability.
- Medical Professional Equipment
Common causes of loss for this industry
- Professional Negligence, Incomplete work, faulty or shody services or misrepresented services.
- Employee Musculoskeletal disorders; neck and shoulder.
- Slips, Trips and falls.
- Theft, burglary, and vandalism
- Cyber Attacks – data theft
- Puncture Wounds
- Harassment and/or discrimination
- Contamination of Hepatitis C (bloodborne infectious agents) from poor sterilization and infection controls
What types of insurance do dental practices need
- General Liability and Property Insurance including Medical Professional Equipment.
- Worker’s compensation Insurance
- Business Auto coverage if you own any vehicles registered to the business or you have employees that run errands for the business using their personal vehicles.
- Most importantly as trusted medical professional you will need to carry Medical Malpractice Insurance also known as professional liability or E&O Insurance. Medical Malpractice Insurance can pay for legal expenses over professional errors.
The graphic below is interactive. Explore and learn more about some unique risks as well as the related insurance solutions.
Commercial General Liability
Possible Liability: Claims due to accidents for property damage, bodily harm, personal injury.
Solution: General Liability is necessary to save your dental practice from financial loss, lawsuits, claims, or damages due to non-professional negligent acts by your services, company operations, or your workers.
Possible Liability: Most states require employers to cover for any employee work-related injuries.
Solution: Make sure to add this to your policy to avoid penalties and be able to provide benefits to eligible employees.
Possible Liability: Employees that might sue their employers for what they feel are unequal or unfair treatment.
Solution: Employment Practice Liability Insurance usually comes as a standalone policy and can cover the business and upper management officers. A Third-Party coverage option can also be added by endorsement to address claims made by clients and vendors for acts done by employees.
Possible Liability: In the unfortunate event that patient records are ruined beyond recognition. Maintaining these records is not just important for the practice but can also be a lawsuit.
Solution: Coverage can be added to a BOP to cover recreating either a hardcopy or softcopy of the records.
Possible Liability: In case your dental practice cannot operate due to unforeseen circumstances, for example, a fire or pipe leak, or anything that causes the business to halt operations.
Solution: Adding coverage for business income insurance can protect against potential financial losses.
Errors and Omissions
Possible Liability: Sometimes a simple clerical error, non-provision, or missing information in a service or product offered by a business can cause lawsuits.
Solution: Professional Liability Insurance can be added as a security measure in cases where negligent acts, errors, or omissions transpiring during company activities, and which potentially result in a financial loss for the client.
Possible Liability: Risk of customer’s financial info getting lost, stolen, or endangered can turn into a legal responsibility for a business to communicate about any such breach and even pay for financial damages.
Solution: Adding a cyber liability policy can assist with the fees and losses in the aftermath of a cyberattack.
Possible Liability: Dental offices/practices not properly estimating the replacement costs of their equipment.
Solution: BOP covers most dental/medical and office equipment but for special, expensive equipment, a separate policy might be needed. An agent will be able to help determine this for you.
Possible Liability: Around 1000 needlestick injuries happen per day in the US.
Solution: Workers compensation insurance covers for the initial blood test. EPLI can provide extra protection in case your employee sues. An insurance agent will be able to help determine your coverage for you.
Perishable Dental Supplies and Medicines
Possible Liability: Any uncontrollable situation that leads to spoilage of dental supplies and medicines.
Solution: Policy coverage for the cost of replacing spoiled goods as an added endorsement to your BOP.
Crime and Fidelity
Possible Liability: In the event that an employee is found guilty of dishonesty or work-related crime.
Solution: Ensures coverage for employee theft, vandalism, forgery, dishonesty, etc. Details can be discussed with your agent.
Commercial Umbrella / Excess Insurance
Possible Liability: If your company is found liable for loss that exceeds limits of a standard policy.
Solution: Adding a commercial umbrella policy can accommodate extended limits from $2,000,000 and $10,000,000 over general liability workers comp, commercial auto and directors and officers liability insurance.
Dental Malpractice / Professional Liability
Possible Liability: Licensed professionals and staff can be sued for alleged misdiagnosis or incorrect dental procedures. Exorbitant settlements may force the practice to close.
Solution: Professional liability insurance can protect a dentist and/or other licensed staff from costly lawsuits.
Business Owner Policy
Possible Liability: As a dental practitioner, you might not need as many inclusions in a policy.
Solution: BOP is a custom-made policy that can protect your assets, employees, your business, and other details you may want to set up. It would be best to discuss this further with your agent.
DISCLAIMER: Consult actual policy for exact terms and conditions or talk to your insurance agent for clarifications.
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