Howden launches new Dental Indemnity policy
Featured Products Promotional FeaturesPosted by: Dental Design 14th June 2022
The uncertainties and challenges of the past couple of years have created new concerns among the dental profession when it comes to protecting their livelihood and their income. Adding to these worries for clinicians have been questions regarding the quality and comprehensiveness of their Dental Indemnity. Howden has heard these concerns and really listened to what it is that dentists need today from their policies. The result is a new facility that provides contractual cover for individuals who want total peace of mind now and in the future.
Government concerns
The expert team at Howden has been working on this new facility for the past year, designing a policy to be as inclusive as possible. A large part of this work was based on the 2018 Government consultation report,[i] which questions the appropriateness of discretionary cover in the medical profession. Providers of discretionary policies have no legal obligation to cover the costs of a claim made against a professional. As such, they are not mandated to maintain the appropriate reserves to provide compensation to patients and are not subject to regulation that would ensure financial conduct and fair treatment. Not only does this mean that the professional covered could be on their own if a claim is made against them (it’s at the provider’s discretion whether to provide aid and protection), but there is also a risk that the patient would not have access to the proper compensation.
The consultation was launched to investigate whether a change in legislation is needed regarding clinical negligence cover, providing clarity to professionals and enhanced protection for patients. Though the investigation is on-going, its very existence demonstrates the scale of the issue. It also means that dental professionals should be very careful when choosing their Dental Indemnity – all Mutual Defence Organisations (MDO’s) still offer discretionary cover.
Howden is different. We provide contractual cover so that dentists who have a policy with us can trust that we will fight their corner when they need it most. We are also authorised and regulated by the Financial Conduct Authority (FCA), which means you can have total confidence that we have the capacity to provide any necessary compensation where required as well.
Tailored to you
The Government consultation is not the only influence on our new Dental Indemnity solution. We have also listened very carefully to what dentists want and need from their Dental Indemnity and reacted with a product that meets these demands.
As such, we have been mindful to use wording that is as broad and inclusive as possible for our new policy. This means that it offers contractual cover for a wide number of situations – but does so in a clear and concise way that a discretionary policy may not do. In fact, the wording is wide enough to cover a dentist retroactively for work they have undertaken prior to inception of the new policy, if for any reason the MDO wouldn’t respond. It also provides 10 years run-off should they retire, which is another area that is of concern to dentists. All of this acts as a safety net and offers peace of mind for dentists switching policies – another real concern that we listened and responded to. We appreciate that changing policies can be daunting and that yet more change of any kind may be difficult. That’s why we have created this solution to help alleviate fears and provide a renewed confidence in your insurance policy.
To ensure the very highest quality product, we have collaborated with a household insurer – Hiscox UK – to construct a strong and dependable policy. We paid particular attention to the wording used and together with our Fitness to Practise (FtP) policy we deliver an inclusive solution. Part of our promise in this area includes access to a dedicated medicolegal helpline, which is manned by tier 1 solicitors with expertise both in the legal and dental world, alongside cover for employment disputes, contractual problems and tax investigation. We understand that times can be tough, and so we offer all of our policy holders access to a wellbeing and mental health line to give them someone to talk to in times of need.
Of course, we understand the financial constraints of professionals today as well, which is why we have worked hard to produce an inclusive policy with competitive premiums. In addition, the policy comes with the option of a no-interest finance plan. The goal is to meet the needs of everyone from newly qualified dentists to those approaching retirement and everyone in-between.
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Summary benefits of Howden’s new Dental Indemnity:
- Contractual cover
- Clear and inclusive wording
- 10 years run off
- FtP cover comes with medicolegal helpline
- Tax and commercial helpline
- Mental wellbeing helpline
- Cost competitive
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Ultimately, we have endeavoured to create a product that we believe is in the very best interests of our clients and their patients. We have listened and reacted to the concerns of dentists and the Government, and produced a Dental Indemnity policy to offer maximum protection and peace of mind for all. Find out more by contacting the team today!
For more information or to contact team, please visit www.howdengroup.co.uk or call 020 3918 9127
Howden Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority in respect of general insurance business. Registered in England and Wales under company registration number 725875. Registered Office: One Creechurch Place, London, EC3A 5AF
[i] Department of Health & Social Care. Appropriate clinical negligence cover. December 2018. https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/777469/Clinical_negligence_indemnity_consultation.pdf [Accessed March 2022]
