Business insurance
policies
Protection for your practice
Owning your own practice comes with a lot of responsibility beyond caring for your patients. You need to protect your employees, patients, building, equipment and practice’s financial well-being.
Luckily the AAO understands the responsibilities and risks you face in ways that other insurance providers do not. With more than a century of experience supporting the success of orthodontists like you, the AAO has helped design the policies you need to protect your practice available through Lockton Affinity:
Business
Owner’s Policy
With a Business Owner’s Policy (BOP), Property coverage and General Liability Insurance are combined into one convenient package, saving you money.
Together, this policy protects against costs associated with physical damage to your building and its contents, theft of cash, patient records and other valuables, and claims involving bodily injury and personal and advertising injury.
COVERAGE BENEFITS
Property coverage
Protection for damage to the property your business owns, rents or leases, as well as loss of accounts receivable and valuable records.
General Liability coverage
Protection for losses due to any one occurrence up to $2M, plus general aggregate protection up to $4M.
Custom coverage
Design a policy that fits your practice’s specific needs by adding optional coverage like higher property deductibles and more.
Employment
Practices Liability
Insurance
Whether your practice employs 5 or 25 people, Employment Practices Liability insurance is a must. Designed for AAO members, this policy protects against costs associated with claims of:
• Workplace harassment
• Discrimination
• Retaliation
• Breach of an employment agreement
• Wrongful termination
• Violation of the Family and Medical Leave Act
• Invasion of privacy
• Failure to enforce adequate employment policies and procedures
COVERAGE BENEFITS
Expanded definition of
discrimination
Protection for any claim based on the violation of employment discrimination law or disparate treatment.
Protection from
monetary jury awards
Coverage against the cost of damages resulting from violation of the Age Discrimination in Employment Act or the Equal Pay Act.
Flexible limits
Choose policy limits options from $500K to $5M.
For help selecting the right limits to meet the needs of your practice, contact Lockton Affinity.
Cyber Liability
Insurance
Patient records, including payment information, social security numbers and insurance identification numbers are extremely valuable to cyber criminals. If your orthodontic practice maintains customer information electronically, collects online payment information or uses the cloud, you need Cyber Liability Insurance.
Cyber Liability Insurance offers comprehensive coverage at affordable rates to protect your business against the costs associated with a cyber attack. This cyber liability policy offers full limits of cybercrime (cyber theft), social engineering, fraudulent funds transfer and more.
COVERAGE BENEFITS
Broad coverage
Designed with your risks in mind, this policy includes first and third party coverage options to address cyber extortion, breach of data privacy, contractual liability, copyright infringement and rogue employees.
No sublimits
The policy limit you select is the policy limit you get. If you select a $5M policy, you have full access to your $5M policy limit, even for incidents of cyber theft, social engineering loss, ransomware and more.
Flexible limits
Choose policy limit options from $100,000 to $10M.
For help selecting the right limits to meet your exact needs, contact Lockton Affinity.
Workers’
Compensation
Insurance
You make every effort to provide a safe environment for your staff and patients, but accidents can still happen. To protect your business from the costs associated with employee injuries, you need Workers’ Compensation coverage.
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 your business and personal assets at risk in the event of work-related injury or illness.
COVERAGE BENEFITS
Comprehensive
coverage
Designed with the risks of orthodontic practices in mind, this policy includes coverage for medical expenses from work-related injuries and illnesses and replacement of wages from lost work time.
Customer service
support
We will work with you to ensure you have the right Workers’ Compensation coverage in place to meet your state’s requirements and business’s needs.
Risk management
resources
With your policy, we will provide risk management resources to help reduce the risk of an employee injury and Workers’ Compensation claim.