Council on Insurance Report
Dr. Larson R. Keso
The regular meeting of the AAO Council on Insurance (COI) was held in St Louis, MO, at the AAO Office, June 7, 2008.
The review of the master contract with NYLIC continues. The contract includes the endorsed Term Life, Long Term Disability, Professional Overhead and Major Medical policies. Outside counsel has been retained to ensure the master policy is in compliance with existing New York State regulations. The review will also look at appropriate reserve levels and administrative charges.
The Council voted to recommend that the AAO BOT approve a 6% increase on all Major Medical Plans effective October 1, 2008. This will be the first increase requested since
April 1, 2007.
This fall, for a limited time, first time buyers will have an opportunity to receive a 25% discount if they qualify for the AAOIC professional liability plan. This event will be of limited interest to SWSO members inasmuch as the plan already has significant penetration.
The new team from Aon continues to introduce aggressive and creative marketing strategies.
The Council, AAOSI, and AAOIC presented a resident/new doctor program, risk management for orthodontic staff and a malpractice mock trial at the annual meeting in Denver. All were well attended. Doctors attending the mock trial receive a 10% premium discount. A DVD of the trial is available for those not attending and may be purchased to qualify for the discount.
Information regarding all AAO endorsed insurance products is available online at www.aao-insurance.com or via phone, (800/622-0344). Please contact me should you experience any problems with your AAO insurance. lrkeso(type an @ here)cox.net 405/943-8333.