North Texas Dentistry Special Issue 2018 NTD SP ISSUE 2018 DE | Page 12

INSURANCE TRENDS
for Dentists and Dental Practices
by Kyle Wallace
Understanding how to tailor
multiple insurance policies so that
they meet individual goals and
still coordinate with one another
requires knowledge of the
individual, their business, and
their goals.
12 NORTH TEXAS DENTISTRY | www.northtexasdentistry.com
I’ve been fortunate to be given the opportunity to contribute arti-
cles to this magazine on occasion. Working exclusively with the
dental community as we do here at Wallace Specialty Insurance
Group, we often identify trends in dentistry that impact insurance
and trends in insurance that impact dentists and their practices.
Being able to relay this information to the community we serve in
as many different ways as possible is important in an age where rel-
evant information often gets lost in the plethora of electronic noise
infecting our daily lives.
That’s not to say that I haven’t embraced technology for all of the
wonderful advantages it offers. Over twenty years ago, when I first
made the decision to work exclusively within the dental community,
things worked differently. Business was conducted on paper and
mostly by mail with the occasional fax on thermal roll paper. Back
in these dark ages, a dentist would buy their life and disability insur-
ance from one agent, health insurance from another, malpractice
from someone else and if they opened a practice, the office insur-
ance from another source altogether. There was no coordination
and they never really created a relationship with anyone who could
really help them. Essentially, the dentist had to piece their insur-
ance coverage together without a lot of help.
Understanding this challenge, my partner, Terri, and I evolved our
agency from a premier source of dental professional liability insur-
ance into a full service agency offering every form of insurance a
dentist might need. Working with respected insurance companies