Planning your retirement involves more than stepping away from practice, it also means understanding how your malpractice insurance responds as your professional status changes. Whether you’re fully retiring, transitioning out of practice, or maintaining an active license, it’s important to know when coverage is required, how nonpractising status works, and what protections remain in place after you stop practising. The FAQs below address the most common questions retiring dentists ask about CDSPI Malpractice Insurance and Excess Malpractice Insurance, so you can make informed decisions with confidence.
What do I need to know about my CDSPI Malpractice Insurance coverage when I retire?
For as long as you have an active license, you must have malpractice insurance and continue to pay the premium.
Example 1:
Dr. Ali lives in PEI and decides to retire on December 31. She has sold her practice but decided that she will not renew her license with DAPEI when it comes due on April 1. If you retire but still hold a valid license, you must have malpractice insurance and pay the premium. In this case, Dr. Ali would still be considered a practising dentist from January through March and would be required to have malpractice coverage.
Example 2:
Dr. Kolpacki has sold his practice and considers himself retired. He has not given up his license. During the transition with the new dentist, he works two days a week. In this case Dr. Kolpacki would be required to have malpractice coverage.
Example 3:
Dr. Yu retired and gave up his license on September 30, 2021. He immediately informed CDSPI he was no longer practising. Dr. Yu is then considered non-practising (NP) status. This means he is no longer required to pay the premium for his malpractice insurance, but the coverage remains in force for any claims that may arise from when he was licensed/pracising. This feature is important because claims can certainly arise week, months, or even years after a dentists transitions to non-practising.
If a claim is made against me after I retire for an error that I occured when I worked, will my CDSPI Malpractice Insurance still cover me?
Retirement doesn't mean the coverages offered by your policy cease upon retirement. Even when you've stopped practising, CDSPI Malpractice Insurance continues to apply for any work done while you were licensed and covered by the policy.
Our insurer will respond to claims made against dentists for the work they did while they were licensed provided their CDSPI Malpractice Insurance is on a non-practicing status, subjects to the terms and conditions of the policy.
If I'm retiring but not giving up my license, can I give up just my CDSPI Excess Malpractice Insurance (in Ontario and Alberta)?
Yes, CDSPI Excess Malpractice Insurance is not a mandatory insurance. However, if you continue to practice dentistry you remain at risk of claims and the added coverage from CDSPI Excess Malpractice Insurance should be carefully considered.
If you keep your CDSPI Excess Malpractice Insurance until retirement and upon the surrender of your license, then as long as you continue under non-practising status with your primary provider, you will continue to be covered by the plan, subject to the terms and conditions of the policy.
CDSPI Malpractice Insurance and Excess Malpractice Insurance are not available in the province of Quebec.