If you purchased coverage from a broker and would like to update or change your policy, please contact your broker. Loved how quick and easy it was to get a quote and a policy instated for both professional and general liability - no multiple page forms to complete!”. What do I do? The Trust knows not everyone's situation is the same – we're psychologists too, so we understand the challenges you face. Our Psychologists Professional Liability Insurance program is available to psychologists in all types of practice including industrial, applied and organizational psychology. If you permanently retire, are 55 years or older, have held the policy for 5 continuous years or more and there have been no sexual misconduct claims in the last 5 years the “tail” is offered to you free of charge. Besides obtaining the appropriate insurance, clinicians should understand the risks of lawsuits and implement risk management strategies to avoid unfounded malpractice claims and decrease the likelihood of being sued successfully. It protects their livelihood and assets against board complaints and lawsuits, and in short, it’s peace of mind. We make it easy for policy-holders to make changes, access documents, and report claims. Protection from cyber-related security risks. I'd spent days searching for insurance policies I could understand, and Hiscox was my answer. Our Reputation Is Solid - More psychologists purchase their malpractice coverage through The Trust than from any other provider. Just fill out a quick form and a representative will contact you at the appropriate time. American Professional Agency, Inc. is committed to serving the profession of psychology not only by providing professional liability insurance but also by offering risk management services and general guidance. Incorporated BUSINESS ENTITY Malpractice Insurance. The Trust is a leading provider of professional liability malpractice, financial security, and innovative risk management programs - meeting the insurance needs of psychologists and related individuals nationwide for more than 55 years. Tail coverage (ERP) essentially extends the reporting period to report for coverage of future claims that are made based on events that occurred during the time period your policy was in force . If a settlement is not reached, then the case will go to binding arbitration where a final decision will be reached. The agreement with our former partner, The Trust, was set to expire in June 2018, so APA and The Trust initiated discussions over a period of months in 2017 to consider terms for renewal. Those associations are free to continue to seek sponsorships or other revenue from other sources. Umbrella, Auto, Directors and Officers, and more. Contact American Professional Agency at 1-800-421-6694, ext. A Primer on Malpractice for Psychologists This article defines malpractice and explains the statutory and judicial criteria used in determining malpractice. American Professional Agency is the new preferred provider of professional and business liability insurance for APA members. Professional liability insurance for psychologists is important as it allows providers to carry out their duties without fear of litigation. Apa Professional Liability Insurance. Who pays for your malpractice insurance. Students should educate themselves about situations that put psychologists at risk for malpractice claims, such as treating a friend or acquaintance or engaging in a romantic or sexual relationship with a client. In addition to the APA member discount you may qualify for a new business discount, a part-time discount, a new graduate discount, a continuing education discount, a risk management discount and a practice setting discount. Underwritten by Hiscox Insurance Company Inc., 104 South Michigan Avenue, Suite 600, Chicago, IL 60603. The psychologists professional liability insurance contract is available for your review on the American Professional Agency website. General liability, also commonly referred to as commercial general liability (CGL), covers your business against claims of bodily injury, any associated medical costs and property damage. This allows you to easily switch your policy and benefit from the lowest premium offered in the first year. Professional liability insurance—sometimes referred to as E&O Insurance—offers a number of potential benefits to practitioners, including coverage against alleged or actual negligence, bodily injury, defense costs, personal injury (i.e., libel and slander), claims arising from past-rendered services and more. Protection for specific risks in your field. Protection from work-related illness or injury. This first-hand experience allows us to design insurance programs that not only address the unique needs of psychologists, but also provide affordable options throughout every stage in one's career - from student, to mid-career practitioner, and beyond. The Trust provides professional liability insurance and financial security products for psychologists, with affordable rates and discounts. Call: 800-477-1200. Whether you run a private practice or work as a psychologist in a different capacity, we can help your business grow by drastically reducing risk and allowing you to focus on what truly matters: providing beneficial mental health services to clients in need. While fraudulent acts and property damage are not covered by professional liability, this form of insurance is essential for anyone who provides a professional service or regularly advises clients, such as psychologists. American Professional Agency (800) 421-6694 Offers discounted professional liability insurance for NASP members. (The Trust was then given an opportunity to match the terms in the American Professional Agency agreement and declined to do so.) Association membership not required Broad coverage at affordable rates My experience with the phone operator was excellent; she educated me and coached me through the process of getting liability insurance for my business. There is no contractual liability exclusion when working as an independent contractor and you may request that an additional insured or landlord be listed on your policy. American Professional Agency's proposal provided greater value for our members than any of the other bidders. The CPH Way: What Makes Us Different Over the last decade, more than 500,000 people chose CPH for liability insurance. Purchase coverage for a specific period of time. Malpractice Issues; Jay Shore, M.D., M.P.H. There are also many other discounts available for which you may qualify. Student Liability insurance for graduate students: Psychologists-in-training risk potential legal, governmental, or regulatory actions every time they provide psychological services. ALERT: Coronavirus (COVID-19) … Enjoy the benefits of great coverage at a great price. Since multiple discounts can be applied, it is best to send your current declarations page, by fax (631) 750-2076 or email to obtain the most accurate and discounted premium. The claims-made policies issued by the American Professional Agency offer “prior acts” coverage which replaces the coverage on your existing policy negating the need to purchase tail coverage from your current insurer. Professional liability insurance—sometimes referred to as E&O Insurance—offers a number of potential benefits to practitioners, including coverage against alleged or actual negligence, bodily injury, defense costs, personal injury (i.e., libel and slander), claims arising from past-rendered services and more. Our job is to provide coverage options to help mitigate your financial risk should you be named in a lawsuit, so you can focus on helping your patients. In most cases you can apply online or you may contact the psychologists department by calling (800) 421-6694 ext. COVID-19 resources for psychologists, health-care workers and the public. 2304 or via email. needed, psychologists may find it useful to consult with their malpractice insurer, the APA Practice Directorate’s legal and regulatory affairs department or a state psychological association representative. We insure self employed and employed individuals, groups and students in all of the mental health fields and have earned our reputation for exceptional customer service, ask your colleagues. I just received a subpoena. You have decided that you are going to start a private practice and are ready to take a major step into running a business. Individual and group coverage is available and the policy will be tailored to your needs. If you prefer, you can call us at 1-866-283-7545 and speak with a Hiscox licensed agent, Monday – Friday, 7am – 10pm ET. This information is provided to assist you in understanding the coverage we offer and does not modify the terms and conditions of any insurance policy, nor does it imply that any claim is covered. To show our appreciation to those mental health professionals who show dedication to their career by participating in membership associations, we often will extend a discount, pending regulatory approval by state agencies, to members for comprehensive, affordable malpractice insurance for psychologists, mental health counselors or behavioral health analysts. Forrest T. Jones & Company (800) 265-9366 Offers discounted professional liability, life, and health insurance … The solution can be found in professional liability insurance—a crucial tool for providing peace of mind and stability for licensed psychologists. We excel in providing psychologists with programs to meet their evolving needs, and have done so for over 55 years. 2304 or by email or online. Malpractice insurance can protect psychologists against the expenses associated with lawsuits and damages claims. There is always a chance that you could make an incorrect diagnosis, get accused of practicing poorly or incorrectly, get accused of negligence, or even failure to provide treatment. Malpractice insurance for psychologists provides professionals with malpractice insurance should a malpractice claim, or suit arise. This remains true when practicing using telepsychiatry. Professional Liability Insurance for psychologists. Members who are considering switching and are within five years of retirement should consider the length of coverage requirement when weighing their options. Here are six reasons why small businesses choose Hiscox above other providers for professional liability insurance and general liability insurance: Ready to learn more about how Hiscox insurance can help mitigate risk with psychologist insurance coverage? Professional Liability Insurance is brought to you by The American Insurance Trust (The Trust), the leading provider of professional liability, financial security, and risk management programs for psychologists and psychology students nationwide. Though your own property is not covered under general liability insurance, damage sustained to a third-party property—including via actions taken by your staff—will be covered. Psychologist (APA member) American Professional Agency is the sole authorized and preferred provider of professional liability insurance for American Psychological Members. If you need any assistance regarding our insurance please call (877) 740-1777. For a list of all of the discounts and benefits on the policy you can review the brochure (PDF, 758KB). The “tail” is only available when the policy is terminated and it may also be obtained for a charge. In addition to the many instances in which psychologists can benefit from having professional liability insurance, there are a number of scenarios that aren't covered under this type of policy. The basic protection for claims against your business. There are a couple of unique considerations regarding malpractice coverage for … As of December 31, 2019, HICI had admitted assets of $778,266,779 and policyholders surplus of $215,333,986. Join your colleagues who have already made the switch. Yes, there are many other benefits and discounts. Advancing psychology to benefit society and improve lives, Download this page as a brochure (PDF, 422KB), Documentation in Behavioral Health (PDF, 1MB), Risk Management Tips in Behavioral Health (PDF, 592KB), Risk Management Considerations When Treating Suicidal Patients (PDF, 1.1MB), © 2021 American Psychological Association, 20 percent discount for APA members every year, 35 percent part-time discount for up to 20 client hours a week — employment can be excluded, 35 percent new graduate discount for the first year, 10 percent new policyholder discount (applicable to new American Professional Agency, Inc. accounts only; must be claims-free for the last six months), 5 percent risk management discount for three risk management credits, 5 percent continuing education discount for six CE credits, Discounted online risk management and continuing education courses, Broad coverage for psychologists including industrial, occupational, applied, research and academic, Defense expenses coverage related to licensing board hearings and other proceedings, Information privacy (HIPAA) and peer review coverage, Limits up to $2 million per occurrence/$4 million per policy, Payment of defense expenses in addition to the limit of liability, Insuring company has an A.M. Best rating of "A" with strong financial stability, Experienced and knowledgeable claims professionals, Expedited, streamlined, same-day online application process in most cases, Switching coverage is easy with prior acts coverage and there is no need to purchase tail coverage, Interest-free quarterly payments (annual premium over $1,000), Excellent customer service and risk management consultations, no appointments required. Easily switch your policy and benefit from the American Psychiatric Association a premier program for Psychiatrists medical liability... Health-Care workers and the policy can help you understand your options and obligations related to retirement coverage a no-obligation competitive... In recent years of sexual misconduct, whether real or perceived licensed agent! Process to three high-quality insurance providers as bidders glad I found a that. A single focus on small business insurance, we provide fast, customized coverage just for you the and. 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