DENTISTS– NEW YORK STATE

Dentists Professional Liability Insurance coverage is offered on either a claims-made or occurrence basis.

Occurrence Form:

Covers claims arising from your professional services rendered during the policy period regardless of when the claim is reported

Claims Made Form:

Covers claims arising from your professional services rendered on or after the retroactive date specified in the policy and before the end of the policy period which are first reported while your policy is in effect or during an extended reporting period.

Click here for further information on claims made and occurrence coverage.

Optional Extended Reporting Endorsement (Tail) Coverage

This coverage is available to claims made policyholders to provide protection for covered claims which are first reported after "termination of coverage." “Termination of coverage” includes cancellation/non-renewal of the policy, a decrease in limits, a reduction in coverage, an increase in deductible or self-insured retention, a new exclusion or any change in coverage less favorable to the insured whether made by the insurer or the insured at any time.

The cost for Tail coverage related to "termination of coverage" due to cancellation or non-renewal is based on a percentage of the mature claims made rate(s) in effect at the time of cancellation, taking into consideration adjustments for changes in classification, territory, and limits during the coverage period. Those percentages are:

First Year	85%
Second Year	120%
Third Year	140%
Fourth Year	150%
Fifth Year and thereafter	155%

Waiver of Premium for Tail Coverage

The premium will be waived for Tail coverage in the event of the following:
(1) death
(2) permanent and total disability; or,
(3) permanent and total retirement from the practice of dentistry after attaining the age of 55 or older and having been insured by a New York State licensed insurer on a claims made basis for 5 or more consecutive years.

Prior Acts (Nose) Coverage For Claims Made Policies

Claims made applicants who are presently covered on a claims made basis by certain acceptable insurers may avoid the expense of purchasing Tail coverage with their prior insurer by securing Prior Acts (Nose) coverage with MLMIC.

Nose coverage is available to qualified applicants who are insured by a New York State admitted carrier. This coverage provides protection for claims related to past treatments which are first reported to MLMIC after cancellation of a dentist’s prior policy.

Unlike Tail coverage, Nose coverage does not involve any direct additional cost, since a dentist simply continues with the same claims made rating year that would have applied had he/she remained with the former carrier.

For example, if a dentist had a claims made policy in force for three complete years, his/her MLMIC policy would be written at the fourth year claims made rate.

Entity Coverage

The individual dentist policy affords coverage to a professional corporation, association or partnership named as an additional insured on the policy without additional premium charge. The professional corporation, association or partnership is not provided separate limits of liability; rather, it shares the limits of liability with all other persons insured under the policy. A separate additional set of limits of liability, not shared with other insureds is available to a professional corporation, association, or partnership composed of two or more dentists (not available to a solo corporation) for an additional premium charge.

The premium would be the sum of the following:

• 10% of the premium for each dentist partner, shareholder, and employee insured by MLMIC, if applicable, and
• 20% of the premium, calculated at the company’s rates, for each dentist partner, shareholder and employee insured by another company.

In all instances involving a solo professional corporation or association consisting of one dentist, the corporation or association will be listed as an additional insured under the individual dentist’s policy and will share his/her limits of liability.

“Defense Only” Coverage

MLMIC will provide, at no additional premium, payment up to $25,000 for the costs of defending: (1) an administrative action brought against a policyholder by a governmental body, such as the Office of Professional Discipline (OPD), arising out of allegations which could form the basis of a claim for legal liability under the policy, and (2) a governmental proceeding alleging Medicare/Medicaid fraud or abuse related to a violation of Medicare or Medicaid guidelines arising out of filing an erroneous claim. Additionally, the policy will provide a limited defense for acts of defamation, libel, or slander which are alleged in connection with a policyholder acting as a member of a formal accreditation board or any committee of MLMIC, a hospital, or a professional society or association.

Disclaimer:

All provisions contained in the policy are subject to prior underwriting approval and may vary. Nothing contained in this website shall be construed as an offer of coverage or as an interpretation of the coverage contained in the policy, either in whole or in part. Actual coverage would be determined by, and is subject to, all the terms and conditions of the policy, endorsements, application, and any legitimate claim.

New Dentists

MLMIC will provide premium discounts to dentists who enter private practice (either a solo or group) immediately following the completion of their formal training. Such training includes a residency or fellowship program, as well as time spent on active military duty, after the completion of either of these programs.

Premium discounts will be applied as follows:

With respect to claims made policyholders, there will be a discount period not to exceed three years:

• For the first year immediately following completion of training, a discount of 50% off the first year claims made rate will apply.
• For the second year following completion of training, a discount of 25% off the second year claims made rate will apply.
• For the third year following completion of training, a discount of 25% off the third year claims made rate will apply.

With respect to occurrence policyholders, there is a 50% discount for one year immediately following completion of training.

These discount rates will not be increased in the event a dentist qualifies for rate credits related to a . In this circumstance, the premium credit shall be the one contained in the Program that would provide the greatest rate of discount.

Part-Time

Part-time practitioners who require coverage for 16 hours per week or less may qualify for a premium discount of 50%

New Doctor and Part-Time discounts will not be applied concurrently.

Risk Management

Dentists who successfully complete an approved Risk Management Program (NYSDA) receive a 10% discount of premium for three (3) successive policy periods.

Quarterly Installment Payments – Four equal payments

Prompt Payment - A 3% premium credit is applied to dentists for prompt payment of the full annual premium upon receipt of the invoice.

One of the primary benefits for policyholders in the NYSDA-MLMIC Program is the coordination between MLMIC and NYSDA’s Underwriting/Claims Committee. One of the committee’s primary functions is to interview prospective insureds who may have prior adverse claims experience or licensure issues. This type of forum enables NYSDA members to apply for coverage without automatically receiving a letter of declination. Although interviews are no guarantee that coverage will be provided, they do provide an opportunity for prospective insureds to discuss their claims experience and/or licensure issues, with a panel of their peers. In addition, program participants, with adverse experience, may not be terminated by MLMIC without the opportunity for a similar interview with the Underwriting/Claims Committee.