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Beyond the Bite

The Official Blog of the Florida Dental Association

Tag: FDA Services

Why Dentists Should Choose The Doctors Company for Malpractice Insurance

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By Carrie Millar, Director of Insurance Operations, FDA Services, Inc.

Why Dentists Should Choose The Doctors Company for Malpractice Insurance

When protecting your dental practice from the risks and uncertainties of malpractice claims, selecting the right insurance provider is paramount. The Doctors Company (TDC) is a leading malpractice insurance provider designed for health care professionals. In this blog post, we will explore the top three reasons dentists should consider TDC for their malpractice insurance needs.

Tribute Plan: Unrivaled Financial Rewards:

One of the standout features offered by TDC is its Tribute Plan — a unique financial rewards program that sets it apart from other insurance providers. Under the Tribute Plan, dentists are eligible to receive a remarkable 10% return of the premium they paid upon retirement. This unrivaled benefit helps dentists secure their financial future and rewards them for their loyalty and commitment to the profession. TDC’s dedication to supporting dentists’ long-term financial goals makes it a compelling choice for malpractice insurance.

Financial Strength:

Choosing an insurance provider with robust financial stability is crucial for dentists seeking reliable coverage. TDC boasts an impressive financial strength rating, providing dentists with peace of mind that their claims will be handled competently and their practices will be protected. With more than 40 years of experience and a solid track record of financial stability, TDC has proven itself as a reliable partner for dental professionals.

True Consent to Settle:

Dentists deserve a say in the resolution process when facing a malpractice claim. TDC offers its policyholders the invaluable benefit of true consent to settle, empowering dentists to participate in the decision-making process regarding claim settlements actively. This feature ensures that dentists’ voices are heard, and their interests are protected, aligning the insurance provider’s goals with those of the insured. True consent to settle demonstrates TDC’s commitment to putting dentists in control of their malpractice claims.

Selecting malpractice insurance is a critical decision for dentists seeking to protect their practices and secure their professional future. TDC stands out as a premier choice for dental professionals for several compelling reasons. Its Tribute Plan offers unrivaled financial rewards by returning 10% of the premium paid upon retirement, providing a unique opportunity for dentists to build a stronger financial foundation. With a proven track record of financial stability and an unwavering commitment to true consent to settle, TDC ensures that dentists’ interests are protected, and their voices are heard. By choosing TDC, dentists can confidently safeguard their practices and focus on providing quality patient care.

Call FDA Services (Dentist Insurance Services) today to learn more 850.350.7155.

Five Reasons Why Dental Offices Should Purchase Cyber Liability Insurance

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By: Scott Ruthstrom, Chief Operating Officer, FDA Services, Inc.

Any dental office that handles electronic medical records should consider purchasing cyber liability insurance for these five reasons:

  1. Protection against cyberattacks: Cyberattacks are becoming increasingly common, and dental offices that handle electronic medical records are particularly vulnerable to these attacks. Cyber liability insurance can help protect against the financial losses resulting from a cyberattack.
  2. Compliance with regulations: Dental offices that handle electronic medical records are subject to regulations such as the Health Insurance Portability and Accountability Act (HIPAA). Cyber liability insurance can help ensure compliance with these regulations and avoid potential penalties for non-compliance.
  3. Recovery from data breaches: If a dental office experiences a data breach, cyber liability insurance can help cover the costs of recovering lost data, notifying affected patients and addressing any legal or regulatory issues that arise.
  4. Reputation management: A cyberattack or data breach can damage a dental office’s reputation and lead to loss of business. Cyber liability insurance can help cover the costs of managing the fallout from such incidents, including public relations efforts and customer outreach.
  5. Business interruption coverage: A cyber liability policy can help cover lost income and expenses if a cyberattack or data breach disrupts normal business operations. This is particularly important for dental offices that rely heavily on electronic medical records to provide services to patients, as any interruption in these systems can lead to significant business losses.

Cyber liability insurance can provide valuable protection and peace of mind for dental offices that handle electronic medical records and help mitigate the potential financial and reputational risks associated with cyberattacks and data breaches.

Five Reasons Why Dental Offices Should Purchase Cyber Liability Insurance

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By Scott Ruthstrom, Chief Operating Officer, FDA Services, Inc.

Any dental office that handles electronic medical records should consider purchasing cyber liability insurance for these 5 reasons:

  1. Protection against cyberattacks: Cyberattacks are becoming increasingly common, and dental offices that handle electronic medical records are particularly vulnerable to these attacks. Cyber liability insurance can help protect against the financial losses that can result from a cyberattack.
  2. Compliance with regulations: Dental offices that handle electronic medical records are subject to regulations such as the Health Insurance Portability and Accountability Act (HIPAA). Cyber liability insurance can help ensure compliance with these regulations and avoid potential penalties for non-compliance.
  3. Recovery from data breaches: If a dental office experiences a data breach, cyber liability insurance can help cover the costs of recovering lost data, notifying affected patients, and addressing any legal or regulatory issues that arise.
  4. Reputation management: A cyberattack or data breach can damage a dental office’s reputation and lead to loss of business. Cyber liability insurance can help cover the costs of managing the fallout from such incidents, including public relations efforts and customer outreach.
  5. Business interruption coverage: A cyber liability policy can help cover lost income and expenses if a cyberattack or data breach disrupts normal business operations. This is particularly important for dental offices that rely heavily on electronic medical records to provide services to patients, as any interruption in these systems can lead to significant business losses.

Overall, cyber liability insurance can provide valuable protection and peace of mind for dental offices that handle electronic medical records and help mitigate the potential financial and reputational risks associated with cyberattacks and data breaches.

4 Cybersecurity Awareness Tips

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FDA Services (FDAS) has seen an alarming increase in cyberattacks on dental offices in the past few years. This year has especially had a sharp increase, which is why they’ve partnered with Coalition Insurance to bring our members cybersecurity and insurance. Even if you choose not to use Coalition Insurance as your cyber insurance provider, please make sure you have this coverage in place! They recommend, at the minimum, $250 per patient record in coverage. 

Below are four cybersecurity awareness tips from our friends at Coalition:

The FDAS experienced staff is ready to get to work for you — call or text 850.681.2996 or email insurance@fdaservices.com to connect to our agents today.