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An A rating and other signs of a strong insurer

Dentists who seek professional insurance coverage have essential factors to consider, including ratings, recommendations and reputation that impact confidence in the insurer’s strength.

Your choice of an insurance carrier isn’t one to be taken lightly. You’re seeking a long-term relationship that keeps pace with changes in your life, practice and profession.  

Want the confidence that you can count on your insurer? Here are three factors for consideration: an A rating, good recommendations and a solid reputation. 

1. The strength to weather change

Founded in 1899, AM Best is the world’s largest credit rating agency specializing in the insurance industry. AM Best ratings include assessments of such factors as: 
Comparisons to industry standards and peers 

  • The ability to pay claims, debts and financial obligations in a timely way

  • Sound business philosophy, management and operating performance

  • Enterprise risk management, including underwriting and investment risks

Access to objective information about insurers’ financial strength and stability can help you make informed coverage decisions.

In February, The Dentists Insurance Company received an A (Excellent) rating from AM Best for the 28th consecutive year. This sustained A rating reflects TDIC’s commitment to consistently review trends, audit service processes and evolve with policyholders’ needs. Because TDIC has earned a reputation for an excellent ability to meet insurance obligations, policyholders benefit from more security — even in a dynamic market and during challenging times. TDIC is built to be there when dentists need them most.

2. The trust of your colleagues

While ratings are a strong indicator of company strength, dentists often rely on peers and brokers for coverage recommendations. If facing a claim, you’ll want the peace of mind that your insurer is in your corner.

To protect their peers in a climate of skyrocketing malpractice rates, a small group of California Dental Association members founded The Dentists Insurance Company in 1980. The company has since grown to protect dentists across 15 states with a board led by dentists and products approved by peers.

This leadership develops the policies, procedures and regulations for the operation of TDIC and its broker, TDIC Insurance Solutions. If, for example, the company’s underwriters were not going to insure a dentist, that individual would have the opportunity to appeal to a panel of their peers. From peer-led decisions to dividends returned to policyholders, TDIC keeps the best interests of dentists at heart. It’s a philosophy that has earned the trust of members of organized dentistry.

In California alone, more association members choose TDIC for professional liability coverage than any other insurer. And that confidence is underscored by earned endorsements from nine state dental associations.

3. Dentistry-focused experience

To protect dentists better than any other insurer, a company also has to understand dentists and their profession better. TDIC’s agents, analysts, legal team and in-house claims unit all deliver specialized expertise. With a singular focus on dentists for 41 years and counting, TDIC understands the details that make a difference in dentistry. Know that you have support to find the right coverage, benefit annual policy reviews and manage your risks.

Learn more about TDIC and explore strong coverage options for every stage of practice at tdicinsurance.com. 

 

 

AM Best Company rating effective February 2022. For the latest rating, access ambest.com.

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