Fortress Insurance Company will introduce a rate hike to its Dental Professional Liability program at the tail-end of the 3rd Quarter of 2021. The company will tentatively bring this rate hike to Arizona on Sept. 1, 2021, pending approval from state regulators. The carrier is aiming for a 2% overall rate increase to the program’s base rates. Fortress will also increase relativity factors under Classes I-F, from 1.70 to 1.75. This follows a 3.2% increase implemented on Sept. 1, 2020.
Additionally, Fortress Insurance will update the language on two of its rules, targeting its Part-Time Coverage Discount rules and its Suspension of Insurance rules.
The carrier will expand which dentists are eligible for its Part-Time Practice Discount to include dentists who are practicing part-time on a temporary basis as a result of a natural disaster or a pandemic. This move is aimed at future proving the appeal of its part-time discount to current and potential insureds in the event of any future pandemics, spurred on likely as a result of the influx of newly part-time practicing insureds due to COVID-19.
Fortress Insurance will also tweak the language on its Suspension of Insurance Endorsement, limiting the length of time in which this endorsement will offer coverage. The carrier will change the minimum suspension period under the endorsement from three months to 30 days and decrease the maximum period from two years to one year.
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