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TDIC policyholders to begin receiving premium refunds this week

June 19, 2020 3898

The Dentists Insurance Company will begin issuing premium refunds this week to policyholders affected by the COVID-19 pandemic.

The Dentists Insurance Company will begin issuing premium refunds this week to policyholders affected by the COVID-19 pandemic.

On April 24, TDIC announced it would be refunding 50% of Professional Liability premiums for two months, to provide financial relief to dentists limited to emergency care due to shelter-in-place mandates.

“We understand that dentists continue to experience unprecedented economic hardships from the COVID-19 pandemic,” said TDIC Board Chair Daniel Davidson, DMD. “Even as dentists resume preventative and deferred care, practices are not operating at 100 percent. TDIC continues to look for ways to provide relief for policyholders.”

The company is refunding over $3.7 million in Professional Liability premiums for policyholders in all 15 states where coverage is offered and, in California, will refund over $2.2 million in Workers' Compensation premiums. This equates to nearly $6 million in returned premiums to the company’s valued policyholders at a time when such assistance is most needed. 

Policyholders do not need to take any action. Professional Liability refunds will be calculated and issued automatically in the coming weeks. TDIC will also calculate and issue the reductions in Workers’ Compensation premiums. *

Policyholders whose Professional Liability policy has already converted to part-time or suspended status are not eligible for the refund as the policy status already reflects a lower premium rate.

To provide additional relief to policyholders, TDIC has also:

  • Extended the grace period for insurance premiums to June 30
  • Waived the fees for its online Risk Management seminar“Pain & Perception: Reducing Nerve Injury Risks” through Sept. 1
  • Temporarily waived all credit card and insufficient-fund fees

For more COVID-19 information and resources, visit tdicinsurance.com/covid19.

*Workers’ Compensation premiums will be adjusted based on the final payroll reporting and auditing at the end of the year.