As dental nurses near the end of their professional careers, they may start considering retirement and all the factors that come with it, including what happens to their professional indemnity insurance once they stop working. One essential aspect to consider is having 'Retired and Run-Off' cover, an insurance policy designed to provide continued protection even after a dental nurse retires.

But what exactly is 'Retired and Run-Off' cover, and why is it something that dental nurses should prioritise as they transition out of practice?

 

What is 'Retired and Run-Off' Cover?

In the simplest terms, 'Retired and Run-Off' cover is a type of professional indemnity insurance that protects retired dental nurses from claims related to their previous work. Even after retirement, a patient could file a claim against a dental nurse for an incident that occurred while they were still practicing. These claims can arise years later, often when a dental nurse is no longer actively involved in the profession and may not have active indemnity insurance.

This is where 'Retired and Run-Off' cover becomes essential. It ensures that dental nurses are still insured against claims that might arise after they’ve stopped working. While you may no longer be practicing, the potential for claims doesn't end with your last day in the clinic.

 

How Does it Work?

When a dental nurse retires, they usually cease paying for active professional indemnity insurance, as this would be unnecessary for a non-practicing professional. However, without coverage, they could be personally liable for costs arising from claims related to their past work.

'Retired and Run-Off' cover extends the insurance policy for a set period (in Trafalgar Risk Management Ltd.’s case, 6 years) offering protection for claims that might arise from treatments or services performed before retirement. Typically, this policy covers negligence claims, or malpractice, giving peace of mind even after one’s professional duties have ended.

 

Why Dental Nurses Need 'Retired and Run-Off' Cover?

1. Delayed Claims Can Happen

In the dental profession, it is not uncommon for patients to develop complications or realise issues years after receiving treatment. This delay could result in a claim being made long after the dental nurse has retired. Without 'Retired and Run-Off' cover, a retired nurse could find themselves unprotected, forced to handle fees and potential compensation out-of-pocket.

2. Protecting Hard-Earned Savings

Legal proceedings related to medical negligence can be costly, sometimes reaching tens of thousands of pounds. For a retired dental nurse, this could mean significant financial hardship, potentially impacting their retirement savings. 'Retired and Run-Off' cover ensures that your savings remain untouched, as the insurance policy will handle the costs associated with such claims.

3. Peace of Mind

Retirement is meant to be a time to relax and enjoy the fruits of years of hard work. Knowing that there is no risk of a professional claim disrupting your retirement can provide enormous peace of mind. With 'Retired and Run-Off' cover, dental nurses can rest easy, knowing they are protected from any issues that may unexpectedly arise from past professional services.

 

Factors to Consider When Choosing 'Retired and Run-Off' Cover

• Duration of Coverage: The policy offered by Trafalgar Risk Management Ltd covers you against claims for 6 years from the date of your current policy expires.
• Scope of Coverage: The policy covers potential claims, including negligence and malpractice, arising from your professional services.
• Cost: The insurer offers this policy free of charge, with no additional cost required.

 

As a dental nurse, you spend your career providing care and ensuring the well-being of your patients. Even after retirement, protecting yourself from potential claims is crucial. 'Retired and Run-Off' cover is a safeguard that ensures you can enjoy your well-deserved retirement without the stress of unforeseen issues from your past work. It’s an important component of a smooth transition out of professional life, providing financial security and peace of mind for the future.

 

For further information on the policy, or if you have any queries, please contact Trafalgar Risk Management Ltd on trmadmin@trafalgar.uk.com, call 0333 8 000 000 or visit our Contact Us page on www.dentalnursespi.co.uk.