Practice Protection

What Practice Protection does

Practice Protection (legal entity PracticeProtection Insurance Company) is a privately-held Risk Retention Group (RRG) that underwrites professional liability insurance for dentists, physicians, and surgeons in the United States. The company was founded in 2016 and is headquartered in Jacksonville, Florida, with a regional office in Fort Wayne, Indiana. Practice Protection is owned and directed by its insured dentist and physician members and operates under the Liability Risk Retention Act of 1981, with primary regulation by the Alabama Department of Insurance and state-by-state RRG registrations; coverage limits reach up to $2 million per claim and $4 million in aggregate.

The product portfolio centers on two core lines — dental professional liability and medical malpractice for physicians and surgeons — supplemented by add-on modules including cyber liability coverage (available in all 50 states plus DC), tail coverage (extended reporting period endorsements), prior acts coverage, medical board defense, locum tenens coverage, part-time/quarter-time coverage options, and partnership/corporation entity coverage. Underwriting is described as disciplined, with both claims-made and occurrence policy forms offered. The company also runs a New Dentist Program that provides one year of free coverage to recent dental graduates. Practice Protection reports that 93% of cases are closed without settlement or trial and states it delivers savings of 20% or more versus competitor rates through disciplined underwriting and non-assessable policies.

Practice Protection distributes coverage primarily through a direct-to-consumer online funnel (quote requests and online applications on practiceprotection.com), supplemented by select independent medical malpractice insurance brokers for agent-assisted sales. Pricing is quote-based and not publicly disclosed; annual premiums vary by specialty, geography, claims history, and procedures. The company has expanded aggressively across 2023–2024, adding registrations in California, Colorado, New Jersey, Connecticut, New York, Maryland, the District of Columbia, New Mexico, and Oregon. Disclosed financials are thin: the company reports 1–10 employees and a single recorded funding round of $100,000 in September 2016, with no revenue disclosed.

Name

Practice Protection

Legal name

PracticeProtection Insurance Company

Website

https://practiceprotection.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

Practice Protection is a privately-held Risk Retention Group that underwrites professional liability and malpractice insurance for dentists, physicians, and surgeons across the United States via a direct-to-consumer model, headquartered in Jacksonville, Florida.

Ownership category

akta.pro rank

Product category

Professional Liability Insurance

NAICS

Direct Health and Medical Insurance Carriers (524114)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Healthcare Professional Liability (Med Mal) (FSAJAGAE)

akta.pro secondary industry

Medical Malpractice Reinsurance (FSAOABAH)

Keywords

• Professional liability insurance
• Medical malpractice insurance
• Dental malpractice coverage
• Risk retention group
• Cyber liability insurance

Headquarters

HQ city

Jacksonville

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Professional Liability Insurance Premiums: The primary revenue stream comes from annual premiums paid by dentists, physicians, and surgeons for professional liability/malpractice insurance coverage. Policies are sold directly to healthcare professionals and through independent brokers.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

PracticeProtection operates as a dentist- and physician-owned Risk Retention Group that underwrites and issues professional liability (malpractice) insurance directly to healthcare professionals. Its core offerings are dental professional liability policies and physician/surgeon professional liability policies with limits up to $2M per claim/$4M aggregate, complemented by add-on coverages such as cyber liability, prior acts, tail coverage, medical board defense, and a New Dentist Program providing first-year coverage at no cost.

Product overview

Practice Protection operates as a dentist and physician-owned Risk Retention Group providing professional liability insurance through a direct-to-consumer model. The core offerings include Professional Liability Insurance for Dentists and Professional Liability Insurance for Physicians & Surgeons, with coverage limits up to $2 million per claim/$4 million aggregate. The product portfolio includes add-on modules such as Cyber Liability Coverage, Tail Coverage, Prior Acts Coverage, Medical Board Defense, Locum Tenens Coverage, and Part-Time Coverage options. Additional services include Claims Management Services with dedicated claim specialists and Risk Management Services featuring compliance training and practice assessments. The company differentiates through its New Dentist Program offering free first-year coverage. All products are offered directly to healthcare professionals with a focus on disciplined underwriting and aggressive claims defense.

Differentiator

Problem solved

Functional benefit

Products and services

• Professional Liability Insurance for Dentists Comprehensive dental professional liability insurance coverage sold directly to dental professionals, with claims-made and occurrence coverage options, corporate entity coverage, and prior acts coverage, forming PracticeProtection's primary product line.
• Professional Liability Insurance for Physicians & Surgeons Medical malpractice liability coverage for physicians and surgeons with limits up to $2 million per claim/$4 million aggregate, including corporate entity coverage and flexible defense counsel options, sold directly to individual physicians, surgeons, and medical practices.
• Cyber Liability Coverage Standalone cyber liability insurance covering costs associated with privacy regulation violations arising from security breaches, with aggregate limit options of $100,000, $250,000, and $1,000,000 and a $1,000 retention; available in all 50 states and the District of Columbia.
• New Dentist Program Distinct program offering new dentists professional liability coverage at no cost for their first year of licensed practice, designed to ease the burden of insurance costs for graduates entering their first year of practice; administered with a deferred $10 capital contribution.

Quantifiable outcome

• 93% of cases closed without settlement or going to trial
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• MedPro Group: One of the largest U.S. medical professional liability insurers serving physicians, dentists, and other healthcare professionals with claims-made and occurrence coverage, directly comparable to Practice Protection's core dental and physician malpractice lines.
• The Doctors Company: The largest physician-owned medical malpractice insurer in the U.S., offering professional liability coverage to doctors and dentists. Highly comparable as a member-governed carrier competing in the same healthcare professional liability market.
• Medical Protective (Berkshire Hathaway): A Berkshire Hathaway-owned medical professional liability insurer with deep history serving physicians and dentists. Competes directly with Practice Protection in claims-made malpractice coverage for healthcare professionals.
• ProAssurance Corporation: A specialty property/casualty insurer with significant healthcare professional liability exposure including dental malpractice. Comparable in product mix, target segments, and multi-state operating footprint.
• MagMutual: A physician-owned medical professional liability insurer serving doctors and dentists, with mutual structure similar to Practice Protection's RRG member-ownership model.
• Coverys: A medical professional liability insurer offering malpractice coverage to physicians, dentists, and healthcare organizations. Comparable in offering claims-made and occurrence policies with risk management services.
• Dentist's Advantage (Brown & Brown): A specialized dental malpractice insurance program administered by Brown & Brown, targeting individual dentists and dental practices. Highly comparable on the dental-only side of Practice Protection's book.
• MedMal Direct Insurance Company: Direct-to-consumer medical malpractice insurer founded by Practice Protection's CEO Michael Wallace. Closely comparable in distribution model (direct-to-consumer), physician focus, and underwriting philosophy.
• NORCAL Group (ProAssurance subsidiary): Medical professional liability insurer serving physicians and dentists with claims-made and occurrence coverage; now part of ProAssurance. Directly comparable in target customer and coverage structure.

Broad incumbents

• CNA Financial: A large national commercial P&C insurer with a healthcare professional liability division serving physicians and dentists. Comparable product offering but operates as a broad incumbent rather than a specialty RRG.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/practiceprotection

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Practice Protection