Knowledge of malpractice rules may help to protect clients from harm and to protect individual psychologists from costly and embarrassing malpractice claims. Speak with a licensed insurance agent: If you purchased coverage from a broker and would like to update or change your policy, please contact your broker. When renewal terms were not reached, APA opened a request for proposal process to three high-quality insurance providers as bidders. 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. Coverage is available for employed or self-employed School Psychologists and we offer full-time and part-time rates for individuals. 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. The psychologists professional liability insurance contract is available for your review on the American Professional Agency website. One component of that business will be to make sure you have adequate professional liability insurance. CM&F offers Psychologist malpractice insurance to individuals interested in protecting themselves with superior liability insurance. 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. APA members who switch to the American Professional Agency will receive a 10 percent new business discount the first year and a 20 percent discount in every year that a policy is purchased. Malpractice Insurance 101: Claims-made vs. occurrence coverage. Protect your business, plan for the unexpected, and help your business grow. Trust Malpractice Insurance. 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. © 2021 Hiscox Inc. All rights reserved. Call: 800-477-1200. The Trust, American Professional Agency, CPH & Associates, and Hiscox are the top choice offering malpractice insurance for psychologists. This allows you to easily switch your policy and benefit from the lowest premium offered in the first year. Licensed, practicing psychologists who offer services for patients experiencing general anxiety disorders, seasonal depression and other mental disorders should consider seeking professional and/ or general liability insurance. 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. Our Reputation Is Solid - More psychologists purchase their malpractice coverage through The Trust than from any other provider. By Stuart Benas, CIC and Bruce E. Bennett, Ph.D. May 1, 2010 - Last updated: May 31, 2011. Learn more about general liability insurance costs for your business. Defense expenses related to licensing board hearing and other proceedings are available with limits as high as $150,000. 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. American Professional Agency is the new preferred provider of professional and business liability insurance for APA members. The Trust understands the concerns surrounding coronavirus (COVID-19) may be causing fear and anxiety. Professional Liability insurance, or Malpractice insurance, is a must for any psychologist. By obtaining a quote in advance, familiarizing yourself with the policy, understanding the benefits offered and the available discounts, the transition should be seamless. There are also many other discounts available for which you may qualify. 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. Malpractice Insurance Psychologist . If you are a member of American Psychiatric Association (APA) we have great new options for your professional medical liability insurance. Individual and group coverage is available and the policy will be tailored to your needs. Members who are considering switching and are within five years of retirement should consider the length of coverage requirement when weighing their options. 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. Insights and information to empower you and your business. Presidio Insurance provides malpractice insurance coverage options for Psychiatrists in most every state. The following features are a few of the highlights: Most members will not need to purchase tail coverage from their current insurance provider. Yes, there are many other benefits and discounts. 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