This article by Tammie Smeltz about choosing a dental professional liability carrier was originally printed in our Fourth Quarter 2020 issue of The Scope: Dental Edition. Read more articles from the publication here.
Whether you are a new dentist or an established practitioner, choosing a professional liability carrier is a crucial decision for your practice. Have you ever wondered what makes one carrier stand apart from another? What exactly should you be looking for when making this important decision?
The strength and stability of your professional liability carrier should be one of your first considerations. MLMIC Insurance Company is not only an admitted carrier in New York State, but is now a member of the Berkshire Hathaway family, which further enhances our financial strength. A.M. Best has recently assigned MLMIC Insurance Company a Financial Strength Rating of A+ (superior). This A+ Rating is a testament to MLMIC’s stability and unwavering commitment to securing the future of dentists throughout New York State.
In addition to strength and stability, you will also want to look at coverage options and value-added services. MLMIC dentist professional liability policies all come with built-in coverage and benefits including:
- Legal Defense Cost coverage up to $25,000 for administrative actions and/or Medicare/Medicaid and/or abuse proceedings
- Contractual liability coverage
- Shared limits coverage for Qualified Professional Entities
- Access to our 24/7 Legal Hotline
In addition to the above, MLMIC also waives the cost for tail coverage (Automatic Extended Reporting Endorsement) for qualified Claims Made policyholders on their retirement from the practice of dentistry and offers some of the most competitive premiums in the state. Both Claims Made and Occurrence policy options are available, as well as an array of liability limits. Whatever your coverage needs, MLMIC has options for you and your practice.
Finally, customer service is another area to investigate while making this decision. MLMIC prides itself on concierge-level service. Whether you have a question regarding coverage, are reporting a claim or need risk management support, MLMIC is here for you. With over 45 years of New York-specific experience, MLMIC is New York’s #1 dental liability insurer. There is no better way to protect your practice than choosing a carrier located in your “own backyard”!