Questions Lockton Affinity’s Insurance for Doctors of Optometry
Lockton Affinity partnered with the American Optometric Association more than a decade ago to meet the complex insurance needs of doctors of optometry. Developed with hands-on involvement by ODs, our policies and services meet the many nuances required of ODs and their insurance.
Read on to learn more through our frequently asked questions.
Questions about Lockton Affinity and Our Insurance
+ Do you offer any discounts?
- We offer two discounts for our Malpractice coverage. Recent graduates receive 50% off the standard premium rate for their first year of practice and 25% off for their second year of practice. We also offer discounts if you elect to purchase a group policy.
+ How quickly will I have my Malpractice policy documents after purchasing coverage?
- Your Malpractice policy can be effective as early as the next day. Once you fill out the application and make payment online, you will receive policy documents via email within an hour.
+ Does your Malpractice policy have any exclusions for surgery or medical codes?
- This policy covers all optometric services within your state’s defined scope of practice. Plus, the policy is structured such that there is no waiting period to be covered as your state evolves its scope of coverage.
+ Does your Malpractice policy cover me for telemedicine?
- Services rendered for participation in telemedicine are covered if they fall within the scope of practice as defined by your State Board of Optometry. We recommend you check with your State Board before practicing telemedicine.
+ Do I need a separate Malpractice policy if I am working at multiple locations?
- Our malpractice coverage follows you wherever you work, so there is no need to have a separate policy.
+ I need the Patient Compensation Fund. What is it and how do I add it?
- The Patient Compensation Fund is available in certain states, including Indiana and Louisiana. Participation in the Fund is optional but may be required by certain insurance companies. If you participate, you can purchase a lower limit through Lockton Affinity and then purchase the Fund through a surcharge.
Our application will ask you if you would like to participate in the Fund and some additional related questions. If you choose to participate, you will receive a separate invoice to be paid online.
Questions about Lockton Affinity and Our Insurance as a Practice Owner
+ Should I add employees to my policy or have them purchase their own policy?
- There are benefits to having a group policy, such as additional premium discounts. A group policy can also make bookkeeping for your business easier. Speak to a representative to see if this option is right for your business.
+ Do I need to have General Liability coverage?
- If you own the business, we recommend you purchase a Business Owner’s Policy, which includes Business Personal Property, General Liability and Business Interruption.
If you are subleasing, your employer may require that you add General Liability. In this case we can add General Liability coverage to your Malpractice policy. Contact us for assistance.
If you are an employee, your employer should have General Liability, which will cover you. Check with your employer to be sure.
+ Am I able to add an additional insured to my application?
- You can add an additional insured to the application if you have added General Liability. If you need to add an additional insured to a Malpractice policy, please contact us, as we will have to make this change separate from the initial online application.
Trust Lockton Affinity with Your Business Insurance Needs
More questions about Lockton Affinity and our coverage? As one of the nation’s leading insurance administrators and the endorsed partner of the AOA, Lockton Affinity knows the coverage, limits and benefits you need.
Contact Lockton Affinity’s dedicated insurance representatives to learn more today at AOAInsuranceAlliance.com.