Many times a dental practice owner will ask about certain insurance coverages and exactly what each particular type of insurance covers. Below is a list of insurance for businesses and their specific purpose:
PROFESSIONAL LIABILITY INSURANCE
Malpractice coverage for individuals, corporations, or employees. The policy covers damages for a variety of professional liability incidents. A policy can also cover hygienists and assistants employed in your office.
WORKERS COMPENSATIONS INSURANCE
Mandatory for all offices and the requirements will vary from state to state.
DENTAL OFFICE POLICY
Covers general liability, office furnishings, equipment, building improvements to leased space and build-outs. Can include business income accounts receivable and wind/hail coverage.
FLOOD
Property insurance does not include damage from flood waters, regardless of the source. The National Flood Insurance Program operated by the federal government provides most policies for damage from flooding.
COMMERCIAL UMBRELLA/EXCESS LIABILITY
Provides coverage in the event of a catastrophic liability loss in excess of underlying policy limits. Can cover general liability, employer's liability, and commercial auto insurance liability.
EMPLOYMENT PRACTICES LIABILITY
Responds to allegations of wrongful termination, failure to promote, harassment, or discrimination.
DATA BREACH/PRIVACY INSURANCE
Responds to risk involving personal health information.
CYBER LIABILITY
Protection for exposures arising out of Internet communications, including privacy issues, the infringement of intellectual property and virus transmissions.
DIRECTORS & OFFICERS
Liability coverage for allegations against the dental practice's officers or board members.
GROUP OR INDIVIDUAL HEALTH INSURANCE
PPO, POS, HMO, and HSA plans for your practice. Expert help navigating the new health exchange environment.
DISABILITY INSURANCE
Coverage to protect your loss of income due to a disability.
OFFICE OVERHEAD
Protection to continue business operations should you become disabled.
LIFE INSURANCE
To facilitate buy-sell agreements should a partner die, protect the business, protect the family, or replace the income derived from a key employee.
LONG-TERM CARE INSURANCE
This voluntary benefit for you and your employees covers costs of home care, assisted living, nursing home.
BONDS
ERISA compliance for pension and profit-sharing plans.
PERSONAL AUTO INSURANCE & UMBRELLA
Personal auto protection and excess liability protection.
Stuart J. Oberman, Esq. handles a wide range of legal issues for the dental profession, including cyber security breaches, employment law, practice sales, OSHA and HIPAA compliance, real estate transactions, lease agreements, non-compete agreements, dental board complaints, and professional corporations.
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