Fortunately for the Florida dentist, there are now several dental malpractice insurance companies in the State who are issuing dental malpractice insurance policies. Picking the right one is important, especially at the time of a claim.
The following are some considerations in choosing a dental malpractice insurance company:
- Does the Company specialize in dental malpractice insurance? The Florida dentist should pick a company that knows their business—not one where dentistry is a subset of a larger focus. For instance, if the malpractice insurance company specializes in insuring physicians and surgeons or or lawyers or accountants, everything dental may take a back seat, including defense and risk management. It is important to pick a dental malpractice company that understands the unique needs of the Florida dentist.
- Is the Company aggressive in defending dental malpractice claims? At the time of a loss, a Florida dentist surely wants a company that can roll up its sleeves and defend them, especially if the litigation is frivilous. It is vital to check with dental peers who have experienced lawsuits to see how aggressive the company was.
- Does the Company have enough experience in insuring dentists? A Florida dentist does not want to be with a company that is new or is just building up capital to be sold. During the malpractice crisis of the 1990’s, many Florida malpractice companies exited the State, leaving the clients high and dry and scrambling to find other coverage.
- Does the Company insure a significant number of dentists? Insurance is a “game” of large numbers. The more dentists a dental malpractice insurance company insures, and the wider the territorial range, the more stable it is. Especially for a litigious state like Florida, it is vital that the other states help to lessen the risk of a concentration of losses.
- Does the Company offer a Risk Management Program? As any Florida dentist who has been through dental malpractice litigation can tell, lawsuits are awful and should be avoided at all costs. A quality Risk Management Program, geared specifically to the dentist, and, hopefully, giving a premium credit, will help the Florida dentist avoid a dental malpractice lawsuit and the attendant problems it brings.
Barbara Gracey Backer
Barbara Gracey Backer is the Vice-President of Gracey-Backer, Inc., an Insurance Agency in Delray Beach, Florida specializing in All Lines of Professional and Personal Insurance. She may be contacted at 800-272-6055 X118 or at firstname.lastname@example.org.