Like any business, there are risks that savvy owners should be aware of so they can protect themselves. Dental businesses are no different and there are many things that can go wrong which can have a detrimental effect on a business. Identifying threats and preparing in advance for the unexpected is wise.
There are several different forms of insurance coverage that dentists should be aware of. It is important to understand that while insurance coverage is another expense that a dental practice will have to take on, having insurance in place as a safeguard can save money in the long run. Without the right insurance, the success and viability of a dental practice are at risk.
Since it is critically important to understand what insurance options are available to dentists and what the different policies mean, having an experienced attorney’s assistance can be incredibly advantageous to make certain things are done right. Considering how much is on the line when starting a dental business, ensuring sound protection of the business is essential. California dentists who have legal concerns or questions can call the Los Angeles business attorneys at Leiva Law Firm.
Insurance for Dentists to Consider
Insurance provides crucial protection for dentists. Some of the following types of insurance may be available for dentists to consider.
Professional Liability
Sometimes, malpractice insurance does not cover all dental procedures or dental practice locations. Where gaps exist in malpractice coverage, professional liability may be able to fill. This is especially so if your practice is growing. What was initially adequate for your needs may no longer be and reviewing your coverage to see if it matches your current risk exposure makes certain that you can stay on track and continue to prosper.
As an additional layer of protection and security, should a standard policy’s coverage limits be met as a result of a serious incident.
Property and Casualty
Disasters can happen, and most Californians are well aware of this fact. Should a fire, flood, earthquake, or other catastrophe occur, expensive technology, equipment, and infrastructure could be ruined. If this happens, having property and casualty coverage could be the reason you can rebuild and open up versus shutting down and losing your business.
Employment Practices Liability
Having employees is what allows you to run your business effectively and provide your patients with superior clinical care. However, employees, while necessary also present a risk. Employment Practices Liability coverage can be key should employee disputes, alleged acts of discrimination, misclassification of employees, or other legal workplace issues come about.
Cyber Security
Cyber risks and breaches are very real in this modern age where conducting business without online tools typically impractical. Securing your dental business and its private data from threats such as cybercrime and viruses is necessary and having backup cyber security coverage should issues arise is important.
Business Overhead
Should a temporary or permanent disability happen you may be unable to work. Business Overhead coverage can assist in this situation by keeping your practice open until you can get back to work.
Speak to an Attorney at Leiva Law Firm Today
If you need help protecting your dental practice, please call Leiva Law Firm at (818) 519-4465 to schedule a free consultation with an experienced Los Angeles business litigation lawyer.
