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Free malpractice insurance: Ask before you sign

MedPro MouthingOff Header ImageThis content is sponsored and does not necessarily reflect the views of ASDA.

At this point in your career, we’re sure you’ve heard of employers offering to pay for your malpractice coverage. Is there a catch? Perhaps. As part of The Medical Protective Company’s (“MedPro”) commitment to dental students, we want you to feel comfortable, well-educated and in control when selecting your first malpractice insurance policy. To help you, we’ve put together some tips on how you can accomplish this.

  1. Is the practice you are joining going to pay for your malpractice insurance policy? Yes? Good for you; you’ll definitely want to keep reading.
  • Were you offered a choice between Occurrence or Claims-made coverage?  If not, why?
  • If the policy is Claims-made, who is going to buy tail coverage should you decide to leave? (This is generally stated in your employment contract.)
    • Not sure what tail coverage is?  Check this out:  www.medpro.com/occurrence
        • Depending on the state, tail coverage can cost 140-220% of your current undiscounted annual premium. What will your portion cost if you leave?
  • What happens if the practice is sold to someone who won’t pay for your coverage?
  • Why has the practice selected this specific malpractice carrier for you?
  1.  Have you asked your HR team or practice manager about the policy or company that will be protecting you?
  • There are fewer than a handful of dental malpractice insurance companies that offer a pure consent to settle provision. A pure consent to settle provision means you have the final say regarding the settlement of your malpractice claim.
  1. Does the company providing your coverage have the resources to be a great ally to you now and ten years from now?
  • A company that offers coverage nationally will make relocating much easier than a company who only provides coverage in a few states.
  • Check out A.M. Best’s financial strength ratings for the company. Financial strength ratings are much different that your typical grading scale. These ratings are earned by companies that have submitted their financial records to A.M. Best in return for a grade projecting their financial outlook. Even if you decide to go with the strongest policy type (Occurrence), are you sure the company has the financial strength to make it through the duration of your career?

Is your head spinning? Don’t worry, MedPro’s goal has always been to equip you with what you need to make an educated decision regarding one of the most important choices you will make as a new dentist. We understand the importance of Occurrence coverage, pure consent to settle provisions and dental-specific risk management and claims defense teams. After all, we’ve been protecting your profession for 115+ years, nearly three times longer than anyone else in the malpractice insurance industry. We understand malpractice insurance, and we understand your profession.

Congrats on being closer to one of the best professions in the nation. We hope to protect everything you’ve worked so hard to earn.

~The MedPro Team

MedPro Group

As an ASDA member, you receive exclusive discounts with MedPro Group, the nation’s leader in dental malpractice insurance as well as: Occurrence coverage as low as $50 (ASDA member benefit); Pure consent to settle; and unmatched expertise from a company defending dentists since 1899.

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