Dental Professional Indemnity Insurance

The definition of a Professional Indemnity Insurance arrangement for a Dental Practitioner, as per the Dental Board Of Australia, is an arrangement – that secures for the practitioner – insurance against civil liability incurred by, or loss arising from, a claim that is made as a result of a negligent act, error or omission in the conduct of the practitioner. This type of insurance covers the costs and expenses of defending a legal claim, as well as any damages payable.  The full standard can be found here.  Experien General Insurance Services helps Dental Practitioners to arrange such cover.

See the Product Disclosure Statement issued by the insurer (Insurance Australia Limited, trading as CGU Insurance) for the actual policy wording.  The above is a summary prepared in July 19.

How the product we arrange can support you

There is a wide range in prices offered from one insurer to another based on the specifics of each dentist. Prices for a dentist can be as low as a few hundred dollars per annum for new graduates to over $10,000 per annum for dentists that are regarded by an insurer as being a high risk.  Many full time dentists in private practice pay premiums between $2,500 and $5,000 per annum.

Each insurer will set prices based on their own criteria, which can change over time.  Common factors taken into account in setting premiums include :

• The number of hours worked each week (for example full time vs part time work)

• The nature of the work done by each dentist (some insurers regard certain procedures as higher risk than others)

• The number and amount of past insurance claims of the dentist

• Whether the dentist has faced any issues with Regulators in the past

• Some insurers may differentiate their price based on the location of the dentist (eg their state)

There are many other factors that are taken into account. For example, some insurers may charge more if you are not a paid member of an association they are aligned with.

No. Insurers generally offer policies for a one year duration. At the end of the policy year, the insurer has the option of offering to renew the policy and can vary the pricing, features or not offer renewal terms at all.  This differs to the professional indemnity insurance provided to doctors where there is an insurer of last resort concept that does not exist for dentists.

No. Insurers offer different sub limits and features for coverage as set out in their policy wordings and policy schedules. For example, one insurer may offer cover for Regulatory Claims defence costs of $500,000 whereas another may only offer a limit of $100,000.  One insurer may offer a limit for Civil Claims defence costs of $10m per claim whereas another may offer a choice of $10m or $20m.

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