Retired and previously registered dentists in Alberta have options to ensure they remain insured in the event a lawsuit is brought against them as a result of previous work as a dentist in Alberta.
Who qualifies as a retired or previously registered in Alberta dentist?
- a Dentist who voluntarily and completely retires from the practice of Dentistry and surrenders their Alberta permit to practice Dentistry;
- a Dentist who moves to another province and/or surrenders their Alberta permit to practice Dentistry;
- a Dentist who moves to another country and/or surrenders their Alberta permit to practice Dentistry;
- a Dentist who becomes disabled as a result of sickness, (including treatment for drug or alcohol abuse), injury, or complications due to pregnancy and is unable to perform the whole of the duties of the practice of Dentistry and surrenders their Alberta permit to practice Dentistry;
- a Dentist who no longer has a permit to practice Dentistry in Alberta.
What coverage options are available?
There are two distinct coverage options available.
Extended Reporting Period (5 year or 10 year term)
If you are retired or were previously registered in Alberta as outlined above you may purchase extended professional liability coverage to protect you in the event a lawsuit is brought against you from your previous work as a dentist.
Extended coverage can be purchased for the following periods:
- $2 million per loss / $4 million aggregate for 5 years
- $2 million per loss / $4 million aggregate for 10 years
- The premium is $500 for 5 years, or $1,000 for 10 years.
Prior Acts Coverage (Renew your limits annually)
The Extended Coverage Reporting Period options above provide a single limit over the extended policy term (5 or 10 years). If you would prefer to purchase annual coverage with refreshed limits ($2 million per loss / $4 million aggregate) each policy year, this option is also available.
The annual limit option may be more practical for recently retired practitioners, and may be converted to the longer term at a future date.
The premium is $1061 for the first year and then reduced for the second to $707. The cost for subsequent years is still to be determined.
Purchase Prior Acts Coverage
Volunteering as a Retired or Previously Registered Dentist
Retired or Previously Registered Dentists are eligible for coverage under the Professional Liability Insurance Program when applying for the Volunteer Register. A premium of $100 will cover claims up to $2 million with a $4 million aggregate. This premium is collected when completing the Application for Transfer for Voluntary Services.
Questions?
Contact Lloyd Sadd Insurance Brokers
Lloyd Sadd Dental Team
dentist@lloydsadd.com
780.930.3827 or 780.930.3852