{"id":13286,"date":"2019-09-30T08:00:06","date_gmt":"2019-09-30T13:00:06","guid":{"rendered":"https:\/\/www.aae.org\/specialty\/?p=13286"},"modified":"2019-10-02T15:14:51","modified_gmt":"2019-10-02T20:14:51","slug":"questions-about-malpractice-insurance","status":"publish","type":"post","link":"https:\/\/www.aae.org\/specialty\/questions-about-malpractice-insurance\/","title":{"rendered":"Questions About Malpractice Insurance?"},"content":{"rendered":"

\"\"Here are a few we hear over and over again.<\/h3>\n

By Jamie L. Fehrs, MBA<\/em><\/p>\n

\u00a0<\/em><\/strong>How much do I need?<\/strong><\/p>\n

A common question we get from dental practitioners is \u201chow much malpractice insurance should I carry?\u201d This is a tough question to answer, because it all depends. Every situation is different. Ultimately, you\u2019ll want to evaluate your exposures and your procedures and make sure that you are carrying what\u2019s appropriate for you.<\/p>\n

Where do you practice? Your state may have a say in the matter. Sometimes a state will have certain requirements or minimums. In Pennsylvania, for example, the Pennsylvania Dental Board says that to practice and maintain a dental license you need to have $1 million to $3 million dollars in professional liability coverage. Many people assume that that’s what they ought to carry, but that\u2019s just the state saying, \u201cthis is the minimum coverage you need.\u201d This range may be completely inadequate for you.<\/p>\n

Do you have a specialty? The type of dentistry you practice will also play a role in how much coverage you may opt to obtain.\u00a0 A pediatric dentist deals with a population that needs to be treated with extreme care, for which it would make sense to have higher coverage. If you use a lot of sedation, you will want to increase your malpractice coverage as the use of anesthesia is considered more risky. Likewise, if you do any kind of implant dentistry, you will probably need higher coverage levels than a dentist who\u2019s not placing implants.<\/p>\n

What is your risk profile? If you are risk averse, you will probably look to get higher coverage. Keep in mind that in the large scheme of things, it costs relatively little to transfer risk from you to an insurance company. The old adage \u201cpenny wise, pound foolish\u201d is a practice you may want to avoid when it comes to determining your malpractice coverage.<\/p>\n

Should I choose occurrence or claims-made coverage?<\/strong><\/p>\n

If there’s no compelling reason to get claims-made coverage, we believe that occurrence coverage is a more sensible choice for most. To refresh your memory on these two types of malpractice insurance\u2026 an \u201coccurrence-based\u201d policy covers any claim that occurs during the period of coverage, even if the claim is filed after the policy lapses.<\/p>\n

A \u201cclaims-made\u201d policy responds to claims based on when the claim is first made regardless of when the incident actually occurred. \u00a0It is important that if an individual changes insurance companies or retires that coverage be obtained for prior exposures.<\/p>\n

What kind of consent clause should I choose?<\/strong><\/p>\n

In the event of a lawsuit against you, there are certain consent clauses that give the insurance company the \u201cOK\u201d to settle. We typically recommend that your policy include what\u2019s called \u201cpure consent,\u201d which basically says that you decide if the company will settle on your behalf.<\/p>\n

Ask for help<\/strong><\/p>\n

As always, we have to point out: work with a financial professional who understands the unique needs of dentists and specialists. You\u2019ll want guidance from a subject matter expert in your professional liability needs.<\/p>\n

19-026<\/p>\n

Jamie L. Fehrs, MBA, is financial services associate for Treloar & Heisel, Inc.<\/a> She can be reached at jfehrs@treloaronline.com<\/a>. <\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Here are a few we hear over and over again.<\/p>\n","protected":false},"author":12,"featured_media":13288,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[267],"tags":[],"feature":[202],"class_list":["post-13286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sponsored-content","feature-communique"],"yoast_head":"\nQuestions About Malpractice Insurance? - American Association of Endodontists<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.aae.org\/specialty\/questions-about-malpractice-insurance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Questions About Malpractice Insurance? 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