When you hear the words “malpractice insurance,” you may think, “Yawn, insurance.” We get it. As much as we’d like to believe MedPro Group is on your mind, sadly, we know we’re not.
The subject of malpractice insurance doesn’t have to be daunting. To keep it simple, we’ve provided a list of points to help you choose the right malpractice company.
ProTip: Look for a company that can provide you with all of the following.
1. A piece of paper and a promise
Malpractice insurance is a promise to protect you, your reputation and your future assets. This is a hefty commitment given you’re just starting your career. Financial strength rating agencies such as A.M. Best help determine which insurance companies should be able to keep this type of promise to you. The higher the A.M. Best financial strength rating, the more financially secure the insurance company is believed to be.
2. Not all malpractice insurance policies are created equally
Take the “consent to settle clause,” for example. Every malpractice policy has one, but not every company has pure consent. Pure consent allows you to have the final say when settling a malpractice claim.
Simply put, Occurrence policies do not require the purchase of expensive tail coverage. As an ASDA member benefit, MedPro offers Occurrence policies as low as $50.
ProTip: Ask about policy limit restrictions. MedPro’s policies allow you to choose from a variety of policy limits, including $2 million / $4 million your first year in practice.
Unsure where you’ll end up, geographically, after graduation? Go ahead, chase your dreams. An insurance company that’s able to move with you will make coast-to-coast relocations a lot easier.
5. Safety first
A malpractice insurance company who arms you with tools to improve patient safety and identify areas of risk in your practice is the kind that understands you and your profession.
MedPro’s in-house risk management teams can provide real-time expert advice because that’s their primary focus.
ProTip: Ask if the risk management team is specialized and experienced specifically in your industry.
6. Focused, loyal, hard-working
What happens if you’re named in a malpractice lawsuit and left feeling numb, confused and afraid? An experienced claims defense team that’s trained to fight for you will help ensure you never feel alone. With 118 years of experience under our belt, MedPro successfully defends 95 percent of all dental claims that make it to court.
Don’t worry if your head is spinning. MedPro’s goal has always been to equip you with what you need to know to make an educated decision regarding malpractice insurance. Stop by a MedPro Lunch-and-Learn this year to learn even more, or visit MedPro.com/dental for more information today.
Disclaimer: A.M. Best rating as of 7/14/2017. All data is MedPro Group data, 2012-2016. MedPro Group is the marketing name used to refer to the insurance operations of The Medical Protective Company, Princeton Insurance Company, PLICO, Inc. and MedPro RRG Risk Retention Group. All insurance products are administered by MedPro Group and underwritten by these and other Berkshire Hathaway affiliates, including National Fire & Marine Insurance Company. Product availability is based upon business and regulatory approval and may differ among companies. Visit medpro.com/affiliates for more information. ©2017 MedPro Group Inc. All Rights Reserved.
This content is sponsored and does not necessarily reflect the views of ASDA.