EXCESS PROFESSIONAL LIABILITY INSURANCE
The Primary insurance included during your registration for your practice permit carries a professional liability protection limit of $2,000,000. Excess Liability is recommended to protect you against damages that exceed your $2,000,000 limit of insurance.
The $2,000,000 included with your practice permit can be exhausted quite quickly with an increasingly litigious society and costs of defense. Excess Liability up to $23-million per claim is available in addition to your primary $2-million.
Excess coverage will give you the ultimate peace of mind. The following are just some of the scenarios that can affect you and your Dental Practice:
- Nuisance or baseless claims due to a false idea that a dentist will simply pay to avoid the cost of litigation
- Malpractice suits often require costly specialized council and expert witnesses
- Lawsuits for malpractice often don’t settle quickly, especially if there are multiple defendants
- Damages exceeding your primary limit may affect your personal wealth and assets
Lloyd Sadd Dental Team
Lloyd Sadd and Victor Insurance Managers will not share any specific claims details with the CDSA so your claims information will be kept strictly private and confidential. Aggregate claims data will be shared with the CDSA to gauge overall program performance but no individual details will be included.
Coverage under Professional Liability Insurance policies is on a Claims Made and Reported basis. This means the policy responds to allegations made during the policy period regardless of when the incident in question took place.
However, the policy stipulates incidents and claims must be reported as soon as an individual learns of an allegation, claim or an event that could potentially lead to a claim being brought.
Coverage could be denied if the individual does not advise in a timely manner or jeopardizes the potential of an early defence, should it be required.
Lloyd Sadd is here to guide you through the process and ensure you meet the reporting requirements.
What steps should be taken in the event of a complaint or claim?
Malpractice allegations may have merit or be groundless or unfounded. Your policy responds to those allegations whether they are groundless or not and provides legal representation expenses along with potential indemnity payments.
Allegations and claims should be reported immediately. Please report any of the following situations:
- You receive a Statement of Claim, summons or other legal process
- Any written allegations of unprofessional conduct or negligence
- Any circumstance you become aware of where a third party may hold you responsible for your actions
When should a Dentist report a claim or possible claim?
The policy requires you report “as soon as practicable after being made aware of a claim”. Prompt notification is required and essential in order to provide early advice and to ensure that your rights and interests are properly protected. Delay in notification could prejudice the insurer’s position and impair their ability to defend you.
How to Report
Or report directly to our team at:
Lloyd Sadd Dental Team
Your report should contain copies of all written documents, names of potential claimants, date the incident occurred and any details of the incident. Information and documentation is critical in helping resolve disputes and claims.
What happens after a claim has been reported?
The insurance manager, Victor Canada’s claims team will contact the dentist directly to guide them through the entire process. They have an expert control adjuster dedicated to CDSA members who has in-depth knowledge and background in working with dental claims so members can rest assured they will be well taken care of.