It is extremely important for dentists to protect themselves against claims from patients resulting from negligence as well as offering claims assistance and representation for legal complaints of patients. Indemnity insurance is imperative, but it is important to be aware of the different policies that are available to you. It is also a requirement for the General Dentist Council registration and is not something you can avoid. You may be thinking, where shall I start when it comes to choosing your dental indemnity policy? We can help you decide today.
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Dental indemnity insurance is a type of business liability insurance that covers dentists against compensation claims made by clients or alleged negligence or inadequate services.
Dental indemnity insurance helps to manage risk if a client were to make a claim against them. The value of the claims can sore, especially when you take into consideration the costs of legal representation, damages, and the cost of putting things right. Dental practices that do not take out this insurance can be hit with huge claims, some of which they might not recover from.
The General Medical Council has said that ‘If you work for an NHS or HSC body, the organization you work for will receive indemnity through a clinical negligence scheme. If you carry out the private or independent practice, you must arrange adequate and appropriate insurance or indemnity.’
Dental indemnity insurance cover includes acts in the course of your professional responsibilities. This can include delays in referral, injury, misdiagnosis, and physical or mental harm to a patient. This cover is provided for private work as well as NHS work. However, it does not cover any incidents that had occurred before your policy started.
Professional Negligence – If you provide incorrect advice to a patient or make a mistake in your line of work.
Breach of Confidence – If you share information about the patient without their permission.
Loss Of Documents – If you damage or lose documents belonging to a patient.
Employee Dishonesty – If one of your employees acts untoward to a client, which causes them a financial loss.
To summarise if you have worked with patience and have caused them to suffer a financial or reputational loss in the dental industry, dental indemnity insurance will help cover you against any claims made.
You are not able to claim twice on two different insurance policies for the same incident, so make sure you do not pay two premiums for exactly the same cover. Check your ancillary benefits, which may be covered by personal and professional insurances. If a policy lists a lot of extras, be sure to check that the main policy has everything you need, as this isn’t something you should glance over.
You should compare quotes for both contract and price cover to make sure you get the correct one for you. Do not simply accept your renewal quote unless you are 100% sure that it is the best price and the correct insurance.
When it comes to insurance, one size doesn’t fit all, so if you are looking for indemnity insurance. You will want one which can be tailored to your company’s individual needs. A generic policy might not be enough when it comes time to claim. Look out for an excess you will have to pay for insurance claims. Most insurers will have a typical excess amount, which you should be able to negotiate when buying your policy. Take a look at if there are any administrative fees, and if you have to pay monthly or upfront. As all of these little things can make a big difference and can be overlooked.
If you find yourself looking for dental indemnity insurance cover, you can go directly to an insurance company, or speak to an insurance broker directly. It is important that you get several quotes and compare them to find the perfect one for you.
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