Insurance issues for the business of dentistry
When should you inform your insurance carrier when buying new equipment?
Anything over about $10,000. When buying expensive equipment that is leased through a lending company they will often need a letter from the insurance company naming them as a beneficiary of the policy.
What information does your business package insurance carrier want?
Yearly review of number of employees – your accountant or OM should deal with this without you ever knowing about it.
Policies that may be of interest to owners.
- Employment practices liability. This policy covers both discrimination and harassment from both yourself and your staff members.
- Cyber liability. This covers electrically stolen information. Is important in the current climate of HIPPA fines and computers viruses.
- Crime coverage. This policy covers theft and forgery. It covers someone stealing supplies or equipment as well as an employee stealing funds someone.