The “limit of liability” on a dental malpractice insurance policy is the amount of money a dental malpractice insurance company will pay for bodily injury or professional injury caused by dental care that the insured dentist or oral surgeon provided or should have provided. If the dentist or oral surgeon is sued, this is the maximum amount the dental malpractice insurance company will pay.

The “per patient limit” shown on the Declarations Page is the most the dental malpractice insurance company will pay for damages against one patient. The “total limit” is the most the dental malpractice insurance company will pay for the total damages for claims made and reported to the dental malpractice insurance company during the policy period.

So, if the dentist or oral surgeon carries limits of $1,000,000/$3,000,000, the most the dental malpractice insurance company will pay for a claim by one person is $1,000,000. The dental malpractice insurance company will pay a maximum of $3,000,000 for all professional liability claims made during the policy period.

The amount of dental malpractice insurance a dentist or oral surgeon should have can be determined in consultation with us. Several factors are involved, including the price of coverage, the climate in his geographical area, his personal and business assets and his tolerance for risk.

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Reliability

• How long has the carrier been in business?
• How long have they been writing Dental Professional Liability?
• What is their A.M. Best rating? A.M. Best is a credit rating agency for the insurance industry. Knowledge of this rating will help you assess the financial strength of the carrier. For more information on A.M. Best visit their website at www.ambest.com.
• Does the carrier write in only your state or are they able to write in other states, and if so is your coverage portable? You may not be planning to relocate now, but if you should move out of state, it would be nice to know if you have the option to continue your coverage with the same carrier in another state.

Expertise

• What has been their experience defending dentists’? Since dentists’ claims are unique to dentists’, this is an important consideration.
• How often do they settle a claim versus litigation?
• What if any input will you have regarding a settlement?
• What kind of advice, risk management techniques, and consent forms are provided by the carrier to help you prevent a claim?

Premium

• Have there been rate increases in the past five years, and If so why?
• What was the overall rate increase for a dentist based on your characteristics? Assessing the carrier’s past rates will often provide insight into their future rates.

When purchasing a Dental Professional Liability insurance policy (also known as dental malpractice insurance), you are essentially purchasing a promise. The carrier promises to defend and pay damages on your behalf for a future professional liability claim made against you. Knowing the REP of the carrier is essential in helping you determine a carrier capable of keeping their promise.

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