06/14/2016

TDIC signs purchase agreement for Moda-held companies


TDIC has announced the signing of a definitive agreement to purchase three Moda-held companies — Dentists Benefits Insurance Company (DBIC), Dentists Benefits Corporation (DBC) and Northwest Dentists Insurance Company (NORDIC). The definitive agreement follows TDIC's recent announcement of the intent to purchase the companies that provide and administer insurance products and services to more than 4,500 policyholders in seven states.

"We are excited about our purchase agreement and the opportunity to extend our commitment to provide high-quality products and services to our colleague dentists in additional states," said TDIC Board Chair Steven Kend, DDS.

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. In addition to extending TDIC's exceptional customer service and products to policyholders, the purchase further strengthens TDIC with a broader premium base.

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. More than 18,000 dentists in Alaska, Arizona, California, Hawaii, Illinois, Minnesota, Nevada, New Jersey, North Dakota and Pennsylvania have coverage through TDIC. Started by dentists in 1980, TDIC's financial strength and stability are reflected in the company's A.M. Best "A" rating for 22 consecutive years.

The agreement with Moda to purchase DBIC, DBC and NORDIC is subject to approval from state regulators. TDIC and Moda are committed to working together to ensure a smooth transition for policyholders.

For more information on TDIC products and services, visit tdicinsurance.com.



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