COVID-19 resources for psychologists, health-care workers and the public. American Professional Agency has been insuring psychologists since 1976. Talk with patients about using telehealth platforms to meet for appointments if illness interferes with face-to-face sessions. Our programs offer you great insurance coverage at the right price. 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. Apa The Trust. You have decided that you are going to start a private practice and are ready to take a major step into running a business. Call: 800-477-1200. While APA has switched insurance partners, this will have no impact on current insurance policies held by members themselves. 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. 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. Underwritten by Hiscox Insurance Company Inc., 104 South Michigan Avenue, Suite 600, Chicago, IL 60603. Coverage is available for employed or self-employed School Psychologists and we offer full-time and part-time rates for individuals. They took the time to explain my vulnerabilities and how the policy can help professionally cover both me and my company. American Professional Agency's proposal provided greater value for our members than any of the other bidders. Psychologist LIABILITY INSURANCE BENEFITS Malpractice Insurance Psychologist . Feefo Reviews: Hiscox rated 4.8/5 with 2,143 reviews between September 30, 2019 – September 30, 2020. Incorporated BUSINESS ENTITY Malpractice Insurance. The basic protection for claims against your business. It protects their livelihood and assets against board complaints and lawsuits, and in short, it’s peace of mind. What Risks Do I Face as a Psychologist That Warrants Malpractice Insurance? One component of that business will be to make sure you have adequate professional liability insurance. There are also many other discounts available for which you may qualify. What do I do? 1-866-283-7545, Monday – Friday, 7am – 10pm ET This change in APA's sole authorized and preferred liability insurance provider does not affect state psychological associations. By Stuart Benas, CIC and Bruce E. Bennett, Ph.D. May 1, 2010 - Last updated: May 31, 2011. Yes, American Professional Agency offers coverage for both individuals and groups in the psychologists program providing that the lead purchaser is a psychologist. Full Screen. Sometimes, psychologists aren't covered under the medical group's malpractice insurance because the Internal Revenue Service sees them as contractors, not employees, says Stout. 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 . NASP does not recommend one insurance provider specifically. 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. 2304 or via email. 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. Get a fast, free quote now and get that Hiscox confidence behind your psychology business. Psychologist (APA member) American Professional Agency is the sole authorized and preferred provider of professional liability insurance for American Psychological Members. December 11, 2020 APA is working with states to advocate that psychologists who provide in-person services remain among the high-priority health care providers to … Our Reputation Is Solid - More psychologists purchase their malpractice coverage through The Trust than from any other provider. Contact American Professional Agency at 1-800-421-6694, ext. The Trust understands the concerns surrounding coronavirus (COVID-19) may be causing fear and anxiety. The Trust, APA's partner for insurance products, provides a wide variety of insurance plans, including term life insurance, professional and... APA Members Malpractice Insurance ... - American Professional American Professional Agency (800) 421-6694 Offers discounted professional liability insurance for NASP members. Protection from cyber-related security risks. As the exclusive and sole preferred insurance provider, American Professional Agency will gladly provide a no-obligation, competitive quote free of charge. Our program's carrier, Chubb, holds the strongest rating from A.M. Best: A++(Superior). (The Trust was then given an opportunity to match the terms in the American Professional Agency agreement and declined to do so.) 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. Malpractice insurance for psychologists provides professionals with malpractice insurance should a malpractice claim, or suit arise. Malpractice Issues; Jay Shore, M.D., M.P.H. Just fill out a quick form and a representative will contact you at the appropriate time. Trust Liability Insurance Psychologist . Presidio Insurance provides malpractice insurance coverage options for Psychiatrists in most every state. American Professional policyholders will receive a 20% annual discount and will also be eligible for many others discounts for those who qualify. 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. 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. The following features are a few of the highlights: Most members will not need to purchase tail coverage from their current insurance provider. The Trust knows not everyone's situation is the same – we're psychologists too, so we understand the challenges you face. Each psychologist who is an APA member will benefit every year from the 20 percent APA membership discount. Check APA’s guidelines for the practice of telepsychology as well as How to make the most of telepsychology and steer clear of pitfalls. Members who are considering switching and are within five years of retirement should consider the length of coverage requirement when weighing their options. I am glad I found a company that allows me to tailor insurance for my business. A representative from the American Professional Agency can help you understand your options and obligations related to retirement coverage. Details about the APA ethics consultations service are available here. © 2021 Hiscox Inc. All rights reserved. The site was easy and comprehensive. When renewal terms were not reached, APA opened a request for proposal process to three high-quality insurance providers as bidders. Coverages are subject to underwriting and may not be available in all states. *Discounts and coverage features are subject to individual state approval and underwriting guidelines. ALERT: Coronavirus (COVID-19) … Child-custody cases can spell trouble as well. Individual and group coverage is available and the policy will be tailored to your needs. Insights and information to empower you and your business. 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. Professional liability insurance for psychologists will protect you in the event of allegations of wrongdoing. If you would like a reminder quote closer to your policy renewal date, American Professional Agency offers a quick and easy solution. Learn more about general liability insurance costs for your business. The Trust, American Professional Agency, CPH & Associates, and Hiscox are the top choice offering malpractice insurance for psychologists. Apa Professional Liability Insurance. Should a client react negatively to treatment, accuse you of breaching confidentiality agreements or otherwise feel that they've been damaged in some way by your services, the risk of being sued is present. M–F, 7a –10p ET. In most cases it is beneficial for APA members to switch since there may be a substantial savings on your premium. Sangha Yoga General Partnership, New Jersey, "The site was easy and comprehensive. Compare your Psychologist liability insurance policy today with CM&F to immediately see why so many of your colleagues are turning to CM&F. My experience with the phone operator was excellent; she educated me and coached me through the process of getting liability insurance for my business. CM&F offers Psychologist malpractice insurance to individuals interested in protecting themselves with superior liability insurance. 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? Unlike its major competitor, the American Professional Agency psychologists insurance policy does not contain a “hammer clause” (i.e., the insurer's liability is not capped at the value of a settlement offer to which the psychologist refuses to agree) and there is no surcharge for claims. 2304 or by email or online. Umbrella, Auto, Directors and Officers, and more. Psychiatrist – APA Member We are proud to offer members of the American Psychiatric Association a premier program for Psychiatrists Medical Professional Liability Insurance. The new partnership with the American Professional Agency offers an additional option to APA members and allows a choice of insurance companies. 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. The solution can be found in professional liability insurance—a crucial tool for providing peace of mind and stability for licensed psychologists. Occurrence form policies do not require tail coverage when you terminate a policy. 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. I'd spent days searching for insurance policies I could understand, and Hiscox was my answer. Being insured through someone else’s malpractice policy doesn’t guarantee you will be a priority or receive personal coverage when you need it the most. According to estimates by The Trust, which provides professional liability insurance and financial security products for psychologists, over a 20-year career, 40 percent of psychologists will receive a licensing board complaint. American Professional Agency is the new preferred provider of professional and business liability insurance for APA members. The “tail” is only available when the policy is terminated and it may also be obtained for a charge. While American Professional Agency does not currently offer ethics consultations with psychologists, APA does provide that service to its members and is considering expansion of that program. If you prefer, you can call us at 1-866-283-7545 and speak with a Hiscox licensed agent, Monday – Friday, 7am – 10pm ET. Total liabilities were $562,932,793 (inclusive of $236,274,591 of lossreserves) and paid up capital stock was $4,242,000. 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. Get a Quote & Apply. The American Professional Agency provides a “free tail” in the event of your death or if you become permanently disabled. 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. Significantly fewer, just under 2 percent, will have a malpractice … If a settlement is not reached, then the case will go to binding arbitration where a final decision will be reached. The Trust provides professional liability insurance and financial security products for psychologists, with affordable rates and discounts. 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. Obtaining liability insurance is an effective way to mitigate risk while providing beneficial mental health services to the community—especially for therapists working in private practices. Who pays for your malpractice insurance. We also provide professional liability insurance … The Trust provides professional liability insurance and financial security products for psychologists, with affordable rates and discounts. 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. I just received a subpoena. It was a very simple process and big relief to get a policy. ", "So easy! Malpractice insurance can protect psychologists against the expenses associated with lawsuits and damages claims. Several of the benefits are listed below. Forrest T. Jones & Company (800) 265-9366 Offers discounted professional liability, life, and health insurance … We excel in providing psychologists with programs to meet their evolving needs, and have done so for over 55 years. 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. Unlike its major competitor, American Professional Agency will provide full defense of a sexual misconduct allegation (with a sublimit of $25,000) and does not require repayment of the defense should you be found guilty. This allows you to easily switch your policy and benefit from the lowest premium offered in the first year. 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. 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. 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. To APA members of $ 215,333,986 by Hiscox insurance company Inc., 104 Michigan... Stuart Benas, CIC and Bruce E. Bennett, Ph.D. may 1, 2010 - Last:! Each psychologist who is an APA member benefit on renewal of their policy with American Professional Agency provides “. For liability insurance ( or malpractice insurance: most members will not need to purchase tail coverage from broker... Insurance providers as bidders expenses associated with lawsuits and damages claims and Bruce E. Bennett Ph.D.! Time to explain my vulnerabilities and how the policy can help professionally cover both me and company! Most cases you can review the brochure ( PDF, 758KB ) psychologists Professional... 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