Thinking of switching Indemnity Providers? Here’s what you need to know
Choosing the right indemnity provider is one of the most important professional decisions you’ll make throughout your career. Your indemnity cover not only protects your professional registration but also safeguards the personal assets you’ve worked hard to build.
With so many indemnity products available, navigating the market can be challenging. Understanding the differences between providers and deciding what level of protection is right for your needs isn't always straightforward.
If you’re considering switching providers, here are some of the key factors you should consider before making your decision.
What should you look for in an indemnity provider?
Not all indemnity arrangements offer the same level of protection. Before choosing a provider, consider the following questions:
- Is the cover provided through an insurance policy or discretionary membership?
- Is the policy loss occurring (occurrence-based) or claims made?
- Who will be available to support you if you need advice or assistance, and when?
- Is the provider regulated by the Financial Conduct Authority (FCA)?
Understanding the answers to these questions can make a significant difference should you ever need to rely on your indemnity cover.
GDC Guidance on Indemnity
The General Dental Council (GDC) defines appropriate indemnity as:
“Appropriate cover is cover that will, in the event of a successful claim, compensate a patient who suffers harm.”
The GDC also encourages dental professionals to ask themselves:
“Will this product ensure that I can meet any liabilities to patients following a successful claim? If not, what alternative or additional products might I need to meet my obligations to patients?”
It is far from clear how any discretionary indemnity provider can answer this question with a yes (in writing) as the choice of the words 'cover that will' used by the GDC in guidance is definitively that something is expected to happen which is not discretionary.
You can read the full GDC guidance on professional indemnity and insurance cover for dental professionals here.
How TDS Indemnity works
TDS offers a loss-occurring, non-discretionary, regulated policy with contingent past cover through a prior acts clause. In line with the GDC's own guidance, this means you're covered should a claim arise from your past, present, or future treatment of patients — giving you certainty that you can meet your liabilities following a successful claim.
Gaps in cover between providers, or uncertainty about whether a past matter will be picked up, can be a real source of worry when looking at switching. Our prior acts endorsement is designed to address this; it provides cover for past liability claims where a previous provider does not assist, so you are not left relying on another provider's discretion.
Behind every policy is a large team of employed dentists, lawyers, and dual-qualified advisers who provide support throughout any claim or regulatory matter — available by phone 24/7, whenever you need us. You can meet our full team here.
What You'll Need to Switch to TDS
Switching is more straightforward than most dentists expect. To get a quote, we'll need:
- Year of your primary qualification
- Year of GDC registration
- Your GDC registration number
- The number of clinical sessions you work each week (two sessions per working day)
- Your current scope of practice
- Details of your indemnity providers over the previous five years
- Details of any gaps in indemnity cover during that period
- Letters of Good Standing (LOGS) from each indemnity provider you’ve held within the last five years
We aim to provide you with an indicative quote within one working day. If you have no previous claims or other material changes, this should not differ from your final quotation. A final quote and confirmed cover can only be issued once we have received your Letters of Good Standing (LOGs). As some providers can take up to 15 working days to issue these, we recommend requesting them as early as possible—ideally within 30 days of your renewal date.
Ready to make the switch?
We understand that switching providers can feel daunting, especially if you've been with the same one since graduating. But now more than ever, it's essential to have cover - and a team - that you can genuinely rely on.
If you have any questions, our team is happy to talk it through and put your mind at ease. Call our join team on 0141 772 0178, option 1, or request a call back.
Ready for a quote? Get a quote from TDS and our team will have it emailed over within one working day.
