TDIC expansion plan announced

TDIC has announced it has signed a letter of intent to purchase three dentist insurance businesses from an Oregon-based company, Moda. The acquisition will allow TDIC to expand its exceptional service and products to more than 4,500 additional policyholders, further strengthening TDIC with a broader premium base.

The acquisition includes Dentists Benefits Insurance Company (DBIC), Dentists Benefits Corporation (DBC) and Northwest Dentists Insurance Company (NORDIC). DBIC serves the professional liability and business insurance needs of dentists in Alaska, Arizona, Montana, Oregon, Tennessee and Washington while NORDIC provides professional and general liability to dentists in Idaho and Washington. DBC is an insurance agency that administers NORDIC products and sells and administers DBIC products.

"We are thrilled about the opportunity to provide high-quality products and services to our dentist colleagues in additional states," said TDIC Board Chair Steven Kend, DDS. "TDIC has earned the loyalty of 18,000 dentists who choose us to protect their practices and we look forward to extending that commitment to new policyholders."

TDIC has prepared for expansion opportunities for many years in order to maintain its exemplary customer service to meet the needs of policyholders in all states.

"Expanding the service success and financial strength of TDIC to policyholders in more states through this acquisition is very exciting," said CDA President Ken Wallis, DDS. "Ten years ago we began preparing for an appropriate opportunity and we are in an excellent position to make this happen."

Started by dentists 36 years ago during a time of skyrocketing malpractice premiums, TDIC focuses exclusively on supporting the dental profession by offering a comprehensive suite of professional and business liability, commercial property, workers' compensation and employment practices liability products. TDIC's financial strength and stability are reflected in the company's A.M. Best "A" rating for 22 consecutive years. More than 18,000 dentists in Alaska, Arizona, California, Hawaii, Illinois, Minnesota, Nevada, New Jersey, North Dakota and Pennsylvania have coverage through TDIC.

The letter of intent is subject to TDIC's due diligence, final agreement with Moda and regulatory approval, during which time an exclusivity provision is in effect. TDIC and Moda are committed to working together to ensure a smooth transition for policyholders.

TDIC will share more information as it become available. For more information on TDIC products and services, visit tdicinsurance.com.

Updated: 08/25/16

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