Like the majority of car dealers require drivers to have auto insurance before purchasing and driving a new vehicle off the lot, most lenders require business owners to have life insurance before borrowing a high-value loan to open a practice. Having a life insurance policy in place shows the lender that, should you pass away unexpectedly, the amount of the loan could be paid back. Read on to learn more [...]
Starting an orthodontic practice leads to a lot of questions. Should I buy a current practice from another orthodontist, or should I build my practice from scratch? Do I want the responsibilities and freedom of my own practice? Are my finances in order? Something to consider in your practice ownership journey is insurance for yourself and your business operations. Common Insurance Questions When Starting an Orthodontic Practice Before practice [...]
The field of orthodontics has several potential pathways an orthodontist’s career might take. You may work for a practice, own your own practice, join a group practice, join a DSO or OSO or find that you’ve worked in a combination of these paths by the end of your career. As an example of how one orthodontist’s career can change throughout the years, we talked to AAO-member orthodontist and Board of [...]
Whether just entering the workforce or many years into their career, many orthodontists are facing the decision to affiliate with an orthodontic service organization (OSO) or dental support organization (DSO). If you are faced with this decision, it's important to understand how this change impacts how you insure yourself, your career and your future. Your new employer will likely provide certain insurance policies and other benefits, but there are still [...]
As you progress in your career, your insurance needs may change. From residency to retirement, the AAO-Endorsed Insurance Program, administered by Lockton Affinity, provides access to a variety of insurance policies that can help safeguard you, your family and your practice throughout it all. You choose to go into orthodontics According to the AAO, after at least 10 years of higher education, the average first-year orthodontist carries over $560,000 in student loan [...]
With so many insurance options in the marketplace, it can be overwhelming to pick an insurance company to work with and insurance policies to protect your business. The American Association of Orthodontists has partnered with Lockton Affinity as the administrator of the AAO-Endorsed Insurance program to meet the needs of orthodontists like you. It can be beneficial to think about how to select the insurance partner and policies that best [...]
You make every effort to provide a safe environment for your staff and patients, but accidents can still happen. To protect your practice from the costs associated with employee injuries, you need Workers’ Compensation coverage from the AAO-Endorsed Insurance Program. Workers’ compensation is legally required for doing business in most states. Without the proper workers’ compensation insurance, your practice could face legal consequences for noncompliance. Lack of coverage also places [...]
AAO members have access to insurance products from the AAO-Endorsed Insurance Program, administered by Lockton Affinity. As part of the program, member orthodontists have access to Lockton Affinity’s highly trained, personal insurance representatives who understand the risks and exposures you face as an orthodontist. As you get started with your insurance from the AAO and Lockton Affinity, you can schedule two complimentary meetings with Lockton Affinity’s representatives—a 15-minute introductory meeting [...]
This article is written in collaboration with Black Talon Security, a dedicated cybersecurity company. The American Association of Orthodontists (AAO) selected Lockton Affinity as an “endorsed partner” for the AAO-Insurance Program and Black Talon was selected as the cybersecurity partner to help prevent and respond to cyber attacks. As you know, patient records, including payment information, social security numbers and insurance identification numbers are extremely valuable to cyber criminals. Therefore, [...]
This article is the last of a two-part series guest written by CEDR HR Solutions, a human resources solutions company. Like The American Association of Orthodontists (AAO) selected Lockton Affinity as an “endorsed partner” for the AAO-Insurance Program, CEDR HR Solutions was selected as a human resources services partner. CEDR HR Solutions offers AAO members a free HR consultation, employee handbook evaluation, access to their HR Vault® software, and an [...]
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The AAO-Endorsed Insurance Program is administered by Lockton Affinity, LLC d/b/a Lockton Affinity Insurance Brokers LLC, Affinity Administrator Services, LLC in California Insurance License Number 0795478, in Arizona Insurance License Number 1800004362 and in Arkansas Insurance License Number 100108685. Coverage may not be available in all states and is subject to actual policy terms and conditions. Policy benefits are the sole obligation of the issuing insurance company. Coverage may be provided by an excess/surplus lines insurer which is not licensed by or subject to the supervision of the insurance department of your state of residence. Policy coverage forms and rates may not be subject to regulation by the insurance department of your state of residence. Excess/Surplus lines insurers do not generally participate in state guaranty funds and therefore insureds are not protected by such funds in the event of the insurer’s insolvency. American Association of Orthodontists (AAO) will receive a royalty fee for the licensing of its name and trademarks as part of the insurance program offered to the extent permitted by applicable law.
*Underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 on Policy Form GMR/FACE, Group Policy Nos. G-14242-0 (TL), G-14243-0 (10 LTL), G-14244-0 (20 LTL), G-14242-4 (POE), G-14242-3 (DI) and G-30270-0 (CI). For more information including features, costs, eligibility, renewability, limitations and exclusions click “Learn More.”
New York Life Insurance Company is licensed/authorized to transact business in all of the 50 United States, the District of Columbia, Puerto Rico and Canada. However, not all group policies it underwrites are available in all jurisdictions. Please check the eligibility sections for current availability. New York Life Insurance Company’s state of domicile is New York, and NAIC ID is #66915.
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