Top 10 Dental Malpractice Insurance Companies – Focus on dentistry rather than general medical insurance; it makes sure that they do what they do well, because they only have one customer. While a general provider may provide you with adequate coverage, they are not as focused or knowledgeable about the needs of a dental office. Additionally, those who do not specialize in dental insurance tend to have this type of coverage previously tied to surgical and medical offerings. No one wants to work with an insurance provider who takes their practices for granted.
Select a supplier with good financial strength, A.M. The best. This includes the ability to cover customer claims and other resources such as notes, securitization products and bonds. Companies with at least an A rating with this organization have demonstrated a long-standing ability to meet their obligations to clients in relation to insurance claims. It’s a good idea to choose a provider rated A or higher by AM Best to ensure coverage when needed.
Top 10 Dental Malpractice Insurance Companies
Insurance providers should also include robust policies as part of their coverage. This goes beyond offering a fair premium rate and extends to the type of coverage they offer. DPR defense, cyber liability and other coverages can be essential offerings for your practice. Making sure your provider provides these policies will ensure you have the coverage you need when it counts.
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You also want a provider that rewards clients who manage their practice in a way that doesn’t require malpractice insurance. Many companies offer loans to customers who have gone a long time without a claim. These providers will periodically reassess your level of risk and adjust premiums accordingly. They also often offer discounts to practitioners with a risk management program that helps prevent malpractice claims in the first place.
We investigated numerous malpractice providers, referring to respected voices in the dental community and A.M. The best and Dentaltown. Below we have compiled a list of companies that have a good reputation with professionals and have a good reputation for providing excellent coverage.
The MedPro Group has been the uninsured insurer against dentists for ages; MedPro offers students free insurance for their first year as a dental practitioner, and many dentists choose to stay with MedPro because of its financial strength, wide range of policies, and national endorsements from the American Association of Endodontists and associations. American Academy of Periodontology. Their policy rates range from $1 million to over $3 million, and they have settled over 400,000 claims nationwide.
PSIC specializes specifically in malpractice insurance and offers a range of policies that cover claims processing and coverage in depth. PSIC has been in business since 1946 and provides resources, such as expert defense attorneys and professional claims representatives, to initiate healthcare strategies for your practice. PSIC offers policy limits from $100,000 to $4 million and offers new graduate and part-time discounts.
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CNA, a reputable company serving more than just the dental industry, has a strong reputation globally for being one of the most financially stable and growing insurance companies in the field. From small businesses to corporations, CNA is backed by more than 120 years of experience serving more than one million businesses and professionals each year. For healthcare professionals, CNA was a founding member of the National Patient Safety Foundation and was named a 2018 Best Medical Malpractice Provider by PropertyCasualty 360. CNAs provide dentists with valuable resources for their practice, such as citation assistance, coverage of disciplinary proceedings, and numerous exposure mitigation resources.
PPP designs its insurance based solely on the dentist’s needs, creating a comprehensive dental malpractice insurance plan with the advice of malpractice experts and dental professionals. PPP chooses agents from the United States to represent their company to assist with insurance claims. Each agent is selected based on their involvement in the dental community and area of expertise. PPP offers a variety of policies to choose from, modern and forward-looking, easy and comprehensive for any dentist looking for insurance; for example, a professional liability plan includes first aid payment for procedural accidents, full settlement and coverage that extends to employees.
TDIC, also known as The Dentists Insurance Company, was started by three CDA member dentists who wanted an insurance company that focused solely on protecting dentists. TDIC specializes in dental malpractice insurance, meaning their policies help cover a range of issues such as professional liability, workers compensation and cyber liability. Company A.M. For 25 years, and personal local relationships with its policyholders enhance its reputation and customer service.
MedPro Group and CNA offer broad policies for many industries, while companies such as TDIC and PPP offer plans aimed at dentists. Insurance companies depend on the reputation they get from their customers; For any dentist looking for the right dental insurance, comparing rates based on your finances is the best way to find the cheapest plan with the most coverage.
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Dr. Sean Myran is a dentist and graduate of the University of Pennsylvania School of Dental Medicine. He practiced and ran his own private dentistry practice for ten years and has been a full-time online marketing expert for the past 15 years. He writes for Dental Country and other blogs covering a wide range of dental-related topics.
