Yesterday the RCDSO sent out a message strongly recommending that all non-essential and elective dental services be suspended, with emergency only treatment continued.  This has left everyone asking – Is closing my office an Overhead (OV) or Practice Interruption (PI) insurance claim? 
 
OV insurance, often referred to as Business Overhead or Professional Overhead Insurance, will reimburse regular office expenses should you be unable to perform the important or essential duties of your occupation due to an accident or sickness.  Therefore, if you contract COVID-19 and are unable to work due to the effects of the illness, OV insurance may provide a benefit payable should the illness extent beyond your elimination period.  OV insurance does not provide a benefit if a regulatory body recommends you close your office to protect your patients and the community at large.    
 
PI insurance is different and is typically included in your office’s commercial insurance package provided by your property and casualty insurance agency.  The PI component covers overhead expenses if the office cannot operate due to damage caused by a listed event, such as a fire or a flood.  It may include pandemic coverage, but the benefit is often restricted and is provided under very defined circumstances. 
 
While we are not affiliated with CDSPI, the following information can be found on their website today regarding their TripleGuard™ Insurance:
 
PANDEMIC OUTBREAK COVERAGE** To help offset your income loss during a pandemic outbreak, the TripleGuard™ Insurance plan’s practice interruption coverage automatically provides up to $1,000 per day after the first 24 hours (up to a $20,000 aggregate annual limit) when you are prohibited from entering your office by an order from a civil authority or public health official. For an extra premium, you can increase your pandemic outbreak coverage up to $2,500 per day (up to an aggregate annual limit of $50,000) or up to $5,000 per day (up to an aggregate annual limit of $100,000).
 
We will keep you apprised of any new developments.