Our agency represents Cincinnati Insurance Company, which has one of the best Dentist’s packages in the industry. Not only does the basic policy have many broadened features just for dentists, but they offer Professional (malpractice) Liability as well.
One of the best features of the Cincinnati Professional Liability Policy is that the coverage is written on an “occurrence” basis. This is in direct contrast to what most carriers offer, “claims made” forms.
The difference can be huge, especially if you are a dentist in the later years of your practice. A “claims made” form requires coverage to be in force when a claim is made or there is no coverage. For a dentist who retires, he/she must purchase “tail” coverage to extend the claims made form for incidents that occurred while they were still practicing, but are not made until after they retire or leave the practice. Additionally, tail coverage has a specific term, usually a year or two after retirement. If a claim is presented years after retirement, there may not be any coverage even though you have paid for the coverage for many years.
The Cincinnati occurrence form will cover you even after retirement. The only stipulation is that the coverage had to have been in force when the mistake was made. But the claim can be presented years into the future and coverage would still apply. For dentists with a pediatric practice, this can be very important because typically, plaintiffs have a two year statute of limitations after they reach age 18. If you caused a malpractice claim working on an 8 year old, they could have up to 12 years to present a claim!
Let our agency work with your dental practice to be sure all areas are adequately insured.