The Doctor's Consultant

Introduction

Dental malpractice insurance (professional liability) protects dentists from a financial loss if a patient claims they were harmed by a treatment plan or some sort of clinical patient care. It covers everything from judgments, settlements, and legal expenses in the case of a malpractice lawsuit.

You’ve worked hard to build your reputation, and it’s important to make sure it’s protected by the right coverage. With so many frivolous lawsuits on the rise, one of the most important provisions of a malpractice insurance policy is the “no hammer clause” and the “pure consent to settle”. This means that even if the patient agrees to settle, the insurance company doesn’t settle unless the doctor consents to it. Many insurance companies that don't have this language will automatically settle a claim without your consent, report it to the dental board, causing potential harm to your reputation and license.

3 additional things you may want to consider:

1. You want to make sure that your insurance company has the option to offer a “claims made” and “occurrence” policies. The ability to offer both is a good indicator that the company has the financial strength to cover claims that may arise years or in some cases decades in the future.
2. Look for a company that can cover you nationwide (offers coverage in all 50 states). Many companies only offer coverage in a few states. And if your insurance company only offers a “claims made” policy and you decide to practice in another state, you will have to purchase a tail to cover your prior acts under that policy.
3. Some insurance companies require you to be a member of a dental association (CDA, ADA, etc.). Although many of these memberships are free upon graduation from dental school, they generally increase in cost to be a several thousand dollars annually. If you cancel your memberships, then they cancel your insurance, and you will have to purchase a tail to cover your prior acts under that policy. You want to be insured by a company that gives you the option to be a member if you want to but they don’t force you.

At the end of the day, malpractice insurance is a contract between you and the insurance company. We are here to make sure that you understand how the contract works so you can make an informed decision as to the right policy for you and your practice.

Why You?

Gerald invests first in himself. This is most evident in his commitment to ongoing education. He believes that only by keeping ahead of the fast-paced changes in our economy he can be of optimum value to his clients. In addition to his degree in economics, Certified Financial Planning (CFP) courses and meeting the base requirements for his industry, Gerald has graduated from law school, passed the CA bar exam and has been admitted to practice law in the state of California and is a practicing attorney. He has been named to the Forbes “Best in State” Financial Security Professional list every year since 2022. Each of these additional levels of education enable Gerald to better serve the needs of his diverse client base.

Ideal Client

The majority of Gerald's clients are medical professionals (physicians and dentists); most of whom founded and now run their own businesses. While they are in many different specialties, they share a belief in the future in ensuring their income and in their respective abilities to influence that future. As business people, they realize the value of getting quality help, which is why many of them rely on Gerald to help them with their financial futures.