Berkshire Hathaway Specialty Insurance Company (BHSIC) will expand the reach of its dental professional liability program, introducing a new offering in the coming weeks. The new program, dubbed Professional Protection – Dental Malpractice Liability, will be introduce in Texas on approval from state regulators. This new program will target a range of dental classes and specialties and will also target dental hygienists.
Program Plans to Offer Several Endorsements
This program is expected to be competitive in terms of underwriting, as the carrier will offer several optional endorsements to entice potential insureds. Additionally, this program has tapped competitor offerings for the dental class, targeting rates and discounts from carrier’s AIG and Pharmacist’s Mutual and their respective dental professional liability programs.
Dental Malpractice Liability Limits and Risks
Limits for this program will start at $100,000/$100,000 and will go up to $5 million/$6 million. Deductibles will also be available in amounts of $1,000, $2,500, $5,000 and $10,000. Part-time practice credits will be offered starting at 75% for 10 hours or less per week, followed by 20 hours or less per week at 50%. Risk management education credits of 10% will also be offered. Many of the proposed discounting and deductible strategies for the program will mirror that of competitor AIG’s offerings for its dental program.
Berkshire Joins the Crowded Dental Market in Texas
Berkshire joins a dental market in the Lone Star State with heavy competition, as among the aforementioned carriers, it’s also heavily dominated but carriers such as Ace American Insurance Company, Fortress Insurance Company, The Cincinnati Insurance Company, alongside Berkshire’s own The Medical Protective Company. Rates within this segment have seen slight upticks since last year, a trend that is only expected to continue as 2021 ramps up.
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