Membership in the American Psychological Association, TPA or ABPP receive a 20% premium discount every year.
We are one of the largest Program Administrators of professional liability insurance in the United States and have been protecting Psychologists since 1976. Our Professional Liability Insurance program is available to psychologists which include the fields of applied and research, industrial, and organizational psychology. Our policyholders are self-employed and employed individuals, groups and students. We have earned our reputation for exceptional customer service, just ask your colleagues! In addition to our comprehensive coverage, and extensive list of benefits there are multiple premium discounts for which you may be eligible. Members of the American Psychological Association receive a 20% premium discount every year.
MULTIPLE PREMIUM DISCOUNTS
• 35% Part-time Discount is available for up to 20 client hours a week – employment can be excluded
• 10% New Policyholder Discount if you are new to our company (must be claims free for the last 6 months)
• 35% New Graduate Discount for the first year
• 10% Practice Setting Discount
• 5% Risk Management Discount for 3 Risk Management credits
• 5% Continuing Education Discount for 6 CE credits
Members of the American Psychological Association receive a 20% premium discount every year .
PROGRAM BENEFITS AND HIGHLIGHTS
• Defense Expenses related to Licensing Board Hearings
and Other Proceedings: Limit of $5000 per proceeding is included with NO annual aggregate; optional increase of defense expense limit is available up to $150,000
• First Party Assault and Battery Coverage:
Reimbursement up to $25,000 in medical expenses related to injuries and/or personal property damage caused by a patient or client
• Medical Payments Coverage: Limit of $100,000 for Medical Payments to a patient or client arising from bodily injury on your business premises
• Punitive Damages Coverage: Up to $25,000 (where allowable/insurable by law)
• Subpoena for Records: Limit of $5,000 per proceeding with NO annual aggregate (higher limits are available up to $150,000)
• Insurer will pay the Insured up to $1,000 per day for loss of earnings, if the Insured is unable to render Professional Services while assisting in the defense of a covered Claim
• Emergency Aid Coverage: Reimbursement up to $15,000 for your costs and expenses for medical supplies and lost earnings up to $100 due to the provision of volunteer emergency treatment or services
• Fire Legal Liability Coverage: $150,000 liability limit for fire damage to third party property
• Premises Liability: Bodily Injury Coverage and/or Damage to property of patients at your primary office locations(s) with no additional cost
• Information Privacy Coverage (HIPAA): Up to $25,000 defense provided for federal and state regulators who investigate you for violations of privacy protections statutes (where allowed by law)
• Limits up to $2 million per occurrence/$4 million per policy year (higher limits available if required by law)
• “Prior Acts” coverage is available; therefore, it is not necessary to purchase tail coverage to change to our company
• No Surcharge for Claims
• No Deductible
• Individual, group and corporate coverage – separate limits of liability are included
• Broad coverage at affordable rates includes Personal and Advertising Injury Coverage, Publishing of articles or books and broadcasting activities, Teletherapy Coverage and Forensic Practice Coverage
• Coverage for Peer Review and Utilization Review Activities
• Payment of Defense Expenses is in addition to the Limit of Liability for Professional and General Business Liability Coverages
• Insuring company has an A.M. Best rating of “A” with strong financial stability
• Online application processing is available in most cases
• Experienced and knowledgeable claims professionals
and customer service representatives are easily accessible by telephone
• Interest-free quarterly payments (annual premium over $1000) and online credit card processing
RISK MANAGEMENT SERVICES
• Risk Management Consultation Services are accessible for our policyholders with experienced and professional risk managers, on a variety of topics, such as record requests/retention, privacy questions and other risk related issues
• Discounted online Risk Management Courses with BehavioralHealth, Zurinstitute and Telehealth.
We offer multiple premium discounts!
Our Psychology Professional Liability discounts are available to all applicants based upon qualification and company approval.
Please contact a representative at (800) 421-6694 Ext. 2304 for a quote to discuss your eligibility.
Part-Time
A 35% discount is available if you are practicing Part-Time
(20 client hours or less a week).
New Graduate
A 35% discount is available if you are a new graduate within the last 12 months.
Membership Discounts
If you belong to one of the following associations you are eligible for a 20% membership discount.
| ABPP | American Board of Professional Psychology |
| APA | American Psychological Association |
| TPA | Texas Psychological Association |
Practice Setting Discount
A 10% discount is available if you do not practice in a prison setting. This credit is not available in the following states: Alaska, Hawaii, and Kansas.
New Business Discount
A 10% discount will be applied If you have not had prior insurance with the American Professional Agency (except for a student policy).
A Continuing Education Credit Discount: This discount applies only to the individual insured who meets our underwriting criteria for the Continuing Education Credit Discount. Therefore, only apply the discount to the rate that applies to that individual when computing your premium. You are entitled to a 5% discount for the completion of 6 CE credits approved by your state or national psychological association or by your state licensing board. You must forward proof (certificate of completion) to this office that you have received 6 CE credits.
Risk Management Credit Discount: This discount applies only to the individual insured who meets our underwriting criteria for the Risk Management Discount. Therefore, only apply the discount to the rate that applies to that individual when computing your premium. A 5% discount will be given for the completion of 3 CE credits. Please forward proof (certificate of completion). We will refund the 5% if you qualify. Please include the syllabus and outline in order to be considered for the discount
Please note: If you are a policyholder in Texas please contact riskmanagement@awacservices.com for additional information on how to access risk management courses for Texas policyholders.
You can now save 5% on your insurance premium by taking online risk management courses.
To assist you in obtaining your premium discount, we have negotiated a special benefit exclusive to our clients. APA, Inc. Policyholders receive an unlimited 10% discount on all courses taken at BehavioralHealthCE.com. Simply obtain the current discount code in your renewal packet or contact us at (800) 421-6694 Ext. 2304 or contact BHCE.
All BehavioralHealthCE.com courses are completed online.
Unlike other CE providers, all BHCE courses can be viewed for free prior to purchasing your CE credits, so your satisfaction is guaranteed!
American Professional Agency Partnered with the Telebehavioral Health Institute to Bring You a 10% Discount on Telehealth Micro Certification Packages
Professionals in the field of Psychology are eligible to purchase the professional liability insurance providing that you are credentialed as a licensed or certified psychologist or a registered psychological assistant in the state in which you practice. Please contact the psychology department at (800) 421-6694 Ext. 2304 for other eligibility requirements.
Do I need to hold membership in any association in order get an insurance policy?There is no membership requirement; however, members of the American Psychological Association receive a 20% premium discount every year as well as other applicable discounts.
How do I contact American Psychological Association (APA) about membership?You may contact the membership department of the American Psychological Association at (800) 374-2721 or (202) 336-5580 or email membership@apa.org.
Do you know how much it costs to be a member of APA?There is a special introductory rate of $99 for the first year that you are an APA member. Full APA membership dues will increase gradually over eight years to a base rate of $247.
Who provides the insurance coverage?American Professional Agency, Inc. is the exclusive Program Administer and sole preferred provider for American Psychological Association’s Professional Liability Insurance program. The program is underwritten by Allied World Insurance Company, a member company of Allied World Assurance Company Holdings, GmbH, a Fairfax Company (“Allied World”).
Does the Psychologists professional liability insurance policy have a deductible?No, there is no deductible applied should a claim arise.
What is Claims-Made coverage?A claims-made policy will provide professional liability coverage for claims that are reported between the effective date and the expiration date of your policy for incidents that occur after the retroactive date and prior to the expiration date. An Extended Reporting Period Endorsement (ERP), or “tail” coverage (see next question) as it is commonly referred to, is necessary to protect against claims presented when the policy is no longer in force. For a complete explanation you may visit www.AmericanProfessional.com/covered-professions/psychologists under “Forms & Information” select “Occurrence versus. Claims-made”.
What is an Extended Reporting Period Endorsement or a “tail”?An Extended Reporting Period Endorsement (ERP) or “tail” allows you to terminate your policy, and still have coverage for future claims that are made based on events that occurred during the time period your policy was in force. The “tail” is only available when the policy is terminated and it may be obtained for a charge of 175% of your expiring premium. The (ERP) may also be obtained without a charge in the event of your death or if you become permanently disabled. It is also offered to you free of charge 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.
Can I purchase prior acts coverage so to avoid purchasing tail coverage from my current insurance carrier?
“Prior Acts” coverage is available if there is a claims-made policy in force when we issue the policy. We can replace your existing coverage as far back as the retroactive date listed on your current Declarations page, making it unnecessary to purchase tail coverage from your current insurer.
Why do my premium rates increase every year?The psychologists claims-made liability insurance has gradual rate increases during the first five years that the policy is held. Once the policy matures the premiums will level off and stabilize. There should be no additional rate increases on a mature claims-made policy unless there is a change made to the policy. “Prior acts” coverage is available should you need to replace a current policy and avoid paying your current insurer for “tail coverage”. The cost will vary based on how many previous years of coverage are included. These policies will also mature at the fifth year rate when the policy includes five years of coverage.
How much insurance do I need?Minimum liability limit requirements vary from state to state so you should first check with your state licensing or regulatory board to determine the appropriate level of coverage to purchase. You may also find that most hospitals, managed-care entities and facilities require you to carry a minimum limit of $1,000,000 per incident and $3,000,000 aggregate. A limit of liability as high as $2,000,000 per claim/ $4,000,000 aggregate is available (higher limits may be available if it is required by your state).
Do you offer a reduced premium rate if I work part-time?Yes, a 35% premium discount is available provided that your total working hours in all positions including your W2-form employment do not exceed 20 hours a week. You may exclude your activities as a W2 employee and be eligible for the part-time rate though it is recommended to have coverage for all activities. Our rates may be viewed on our website at www.AmericanProfessional.com/covered-professions/psychologists
Are there any discounts available other than part-time rate?Yes, there are several discounts that you may be eligible are:
20% APA member discount of 20% every year
35% New Graduate discount for the first year
10% New Policyholder discount
5% Risk Management discount for 3 risk management credits
5% discount for 6 Continuing Education credits
10% Practice Setting discount (not available in AK, KS, HI)
Yes, the cost to insure a W2-form employee or additional partners is a reduced rate and you may view the rates at www.AmericanProfessional.com/covered-professions/psychologists.
Will this policy provide coverage if I am an independent contractor or provide volunteer services?Yes, the policy can be tailored to the manner in which you practice. We offer both part-time and full-time rates which may be viewed on this page.
Do you offer coverage for corporations and groups?Yes, please call our office at (800) 421-6694 (ext. 2304) to discuss this type of coverage and to obtain a quote. You may also download the application at www.AmericanProfessional.com/covered-professions/psychologists and fax it to our office for a quote. The fax number is (631) 750-2076.
Do you offer coverage for students who have not yet received their degree?Yes, students may apply online on our website www.AmericanProfessional.com/covered-professions/student. If you prefer to download the application the forms are located on this page as well.
Is there any licensing board hearings or other related proceedings?Yes, there is a $5000.00 defense reimbursement limit per incident included in the policy; higher limits up to $150,000 are available at an additional charge. You may select the higher limits when you apply for the coverage or submit a request to change the limit at a later date by submitting a form which may be obtained under the “Forms and Information” tab at www.AmericanProfessional.com/covered-professions/psychologists.
Is there any coverage for information privacy violations (HIPAA)?Yes, there is Information Privacy Coverage included in the policy with defense limits up to $25,000 for federal and state regulators who investigate you for violations of the privacy protections statute (where allowed by law).
Does this policy provide coverage for my premises such as “slip and fall”?Premises liability coverage is included in the policy. This coverage is for bodily injury and/or damage to property of patients at your primary location(s).
For additional information on Fire Legal Liability, Medical Payments coverage and many other enhancements included in the Psychologists Professional Liability insurance please visit www.AmericanProfessional.com/covered-professions/psychologists to view the brochure for a brief explanation or view the entire policy under “Policies” or contact American Professional Agency, Inc. at (800) 421-6694 or (631)691-6400 (Ext. 2304) for assistance.
Yes, American Professional Agency offers free risk management consultations with claims experts with no appointment required and no time limit on the conversation. American Professional Agency’s team does not share information discussed with Allied World, the insurance company that underwrites the professional liability insurance program.
What happens if I need to change my policy before the renewal date?Please contact American Professional Agency at (800) 421-6694 or (631)691-6400 (Ext. 2304) for assistance or you may email us at psychology@americanprofessional.com. To obtain forms and applications you may visit our website at www.AmericanProfessional.com/covered-professions/psychologists To expedite the process you may fax to (631) 750-2076 or email us.
How can I apply for the coverage?Our quick online application is available to those applying for an individual policy, solely owned Professional Corporation (PC/PA), a Limited Liability Company (LLC/LLP) or General Business Corporation assuming that there are no legal W-2 employees or more than three independent contractors.
How soon may I obtain proof of coverage?If requested most policies can be issued on the same day that you apply for the coverage. Once your application has been approved and payment is received a certificate of insurance will be emailed to you usually by the next business day. We accept credit cards (Visa, MasterCard, Discover) online, Vchecks and checks. The Declarations page will be sent to you shortly after processing through regular mail.
Can I get coverage (and a discount) for my group practice?Yes, American Professional Agency covers individuals and groups. Various discounts can be applied to the individuals in the group so it is best to fax (631) 750-2076 or email psychology@americanprofessional.com your current Declarations page to obtain the most accurate and discounted premium.
Please contact the American Professional Agency at (800) 421-6694 or (631) 691-6400 (Ext. 2304) for assistance or you may email us at psychology@americanprofessional.com. To obtain forms and applications you may visit our website at www.AmericanProfessional.com/covered-professions/psychologists and then email or fax the completed information to (631) 750-2076.
Where do I mail my application and/or check?If you prefer to mail the application and a check (payable to the American Professional Agency, Inc) please send it to:
American Professional Agency, Inc.
95 Broadway
Amityville, NY 11701
However, for faster processing you may fax your application to (631) 750-2076 or email psychology@americanprofessional.com and we can advise you how to pay by credit card or Vcheck.
Who can I call if I have additional questions?Our knowledgeable representatives are available and happy to assist you. Please call our live switchboard operator at 800-421-6694 or 631-691-6400 (Ext. 2304). If you prefer you may use our online “chat room” on our website or email us at psychology@americanprofessional.com or send a fax to (631) 750-2076.
There are two primary policy forms for Professional Liability Coverage – the Claims Made Form and Occurrence Form. Many types of professional liability coverage, including Directors and Officers Liability and Employment Practices Liability, are only written on a Claims Made Form. Here are the differences between the two forms:
OCCURRENCE FORM
When a policyholder has an Occurrence form, an incident that occurs during the policy period will be covered by that policy, regardless of how many years later the claim is reported. Incidents that occur before the occurrence form policy is issued are not covered.
CLAIMS MADE FORM
When a policyholder has a Claims Made form, a claim that is made against the insured is covered by the policy in force at the time the claim is made. A retroactive date is usually established as the day the very first Claims Made policy is issued. All subsequent renewal policies use the same initial retroactive date. Claims occurring before the original retroactive date are not covered.
When a policyholder decides not to renew a Claims Made Form, an Extended Reporting Period (ERP) endorsement may need to be purchased. This endorsement does not need to be purchased if:
♦ The policyholder switches insurance companies and remains on a Claims Made Form with the new company keeping the same original retro date.
♦ The policyholder switches insurance companies and goes on an Occurrence Form which is endorsed with a “Prior Acts” endorsement as of the original retro date.
With the APA, Inc. policy underwritten by Allied World Insurance Company, an unlimited Extended Reporting Period endorsement is provided free of charge when a policyholder no longer needs to renew or cancels coverage due to permanent retirement (must be age 55 or older and an APA, Inc. policyholder for at least 5 years), permanent disability or death. Therefore, a policyholder will only need to purchase ERP coverage in the event the policyholder chooses to switch to another insurer who does not offer a Prior Acts coverage endorsement, or is under age 55 and/or an APA, Inc. policyholder for less than five years when deciding to retire. In these instances, the one time cost for the ERP endorsement is 175% of the expiring premium.
BENEFITS OF AN OCCURRENCE FORM
♦ No need to buy Extended Reporting endorsement
DISADVANTAGES OF AN OCCURRENCE FORM
Because a claim can sometimes be filed 10 years or more after a professional liability incident, the policyholder may have the following uncertainties:
♦ Tracking which Occurrence policy in the past will respond to the claim just filed.
♦ The former Insurance Company may no longer be solvent. If the Insurance Company filed bankruptcy, the policyholder would have to rely on state Guaranty Funds which usually provide lower limits and services.
♦ Whether the past policy now has adequate limits due to inflation.
BENEFITS OF A CLAIMS MADE FORM
♦ Less expensive than Occurrence form, especially in the first four years of coverage of the Allied World Insurance form. After five years, the Claims Made Premium levels off. The lower cost for the first four years is especially attractive to professionals just starting their career.
♦ Flexible – Recently increased limits and broadening endorsements will apply to past incidents that are reported under the current policy and occurred after the retro date. For example, $500,000 per occurrence limit may have been considered adequate when a Claims Made form was first issued years ago. Today, $1,000,000 or even $2,000,000 may
be considered adequate due to inflation. If a Claims Made policy is endorsed today to $2,000,000 limits, these higher limits will apply to a covered incident that may have happened two, five, ten years ago or more.
♦ Less uncertainty as to the current company’s financial stability. Coverage can be switched to another carrier with no lapse of coverage if your agent determines the current carrier is in financial difficulty.
DISADVANTAGE OF A CLAIMS MADE FORM
♦ Need to plan for Extended Reporting Period endorsement when deciding not to renew a Claims Made form. Your APA, Inc. underwriter will guide you when or if an Extended Reporting Period endorsement is needed. You will also receive formal written notice when your Claims Made policy lapses or non renews to remind you of your need to investigate your need for this endorsement.
Psychologists who maintain confidential patient / employee information have a responsibility to safeguard that data. With data breaches and cyber attacks becoming increasingly common, having the right cyber protection in place is critical. We offer Cyber Suite, a comprehensive coverage endorsement with multiple layers of insurance defense against the complex, ever-evolving cyber risks that psychologists face every day.
• Data compromise response expense – provides the resources to respond to a breach of personal information.
• Computer attack – provides resources to respond to a computer attack.
• Cyber extortion – responds to an extortion threat.
• Data compromise liability – provides defense and settlement costs in the event of a suit related to a breach of personal information.
• Network security liability – provides defense and settlement costs in the event of a suit alleging that a system security failure on the part of the insured caused damage to a third party.
• Electronic media liability – provides defense and settlement costs in the event of a suit alleging that the insured infringed on a copyright or trademark, defamed a person or organization, or violated a person’s right to privacy.
• Identity recovery – provides owners of the insured practice with case management service and financial resources to recover control of their identities after an identity theft.
Access to eRiskHub®, a risk management portal designed to help prepare and respond effectively to data breach and cyber attacks.
• Access to “TechQ” which offers FREE computer diagnostics by phone and competitive rates for virus removal, technical assistance and related digital security services.
• Access to experts in recovering from cyber extortion and data breaches.
• Process to request case management services and submit expense reimbursement claims.
Managed by experienced and dedicated cyber claim specialists with industry knowledge.
Available as a coverage endorsement to existing American Professional Agency psychologists insureds. Available in most states on an admitted basis.
• Only $381 for an aggregate Limit of $100,000.
(May not be approved in all states & rates may vary)
• Sublimits and/or a $1,000 deductible for certain coverages may apply.
• Higher limits/options available.
Please contact American Professional Agency at psychology@americanprofessional.com or 800-421-6694 (x2304) to learn more about our comprehensive cyber coverage endorsement.
www.americanprofessional.com/cyber-suite-PRO
Credit Card Payments are accepted on-line only, we do not accept credit card payments over the phone. The name on your credit card MUST match the name on your policy (for identity verification purposes).
Please call our office at (800) 421-6694 for information on how to easily pay by Credit Card.
We accept the following:
Now accepting checks online!
Contact us for more information.
Get in touch with coverage specialists in your field.
American Professional Agency is committed to providing you with current and competitive policies, prices and professional liability news. Feel free to contact us regarding any concerns or needs that you may have with your existing policy or the purchase of a new policy.
Monday through Friday, 9:00 am – 5:00 pm Eastern Time
Summer Hours: 8:30 am – 4:30 pm Eastern Time
(Memorial day through Labor Day)
American Professional Agency, Inc.
95 Broadway
Amityville, NY 11701
To speak with one of our knowledgeable customer service representatives, please call (800) 421-6694 or (631) 691-6400. Having your account number or policy number available will expedite the process.
