Psychologist
(APA member)

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

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
• 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.

Our Psychology Professional Liability Discounts are available to all applicants based upon your qualifications and approval.
Please contact our customer service department to discuss your requirements.

35% Discount

Part-Time
A 35% discount is available if you are Part-Time
(20 hours or less a week).

New Graduate
A 35% discount is available if you are a new graduate.

20% Discount

Membership Discounts
If you belong to one or several of the following associations you are eligible for a 20% discount in total from this category.

ABPP	American Board of Professional Psychology
APA	American Psychological Association
TPA	Texas Psychological Association

10% Discount

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
If you have not had prior insurance with the American Professional Agency (except for a student
policy), you are eligible for a 10% new business discount.

5% Discount

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

BEHAVIORAL HEALTH CE

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!

TBHI CE

Who is eligible to purchase the Psychologist Professional Liability insurance? Do I need to hold membership in any association in order get an insurance policy? How do I contact American Psychological Association (APA) about membership? Do you know how much it costs to be a member of APA? Who provides the insurance coverage? Does the Psychologists professional liability insurance policy have a deductible? What is Claims-Made coverage? What is an Extended Reporting Period Endorsement or a “tail”? Can I purchase prior acts coverage so to avoid purchasing tail coverage from my current insurance carrier? Why do my premium rates increase every year? How much insurance do I need? Do you offer a reduced premium rate if I work part-time? Are there any discounts available other than part-time rate? Do you offer a reduced premium rate to cover for my W-2 form employees? Will this policy provide coverage if I am an independent contractor or provide volunteer services? Do you offer coverage for corporations and groups? Do you offer coverage for students who have not yet received their degree? Is there any licensing board hearings or other related proceedings? Is there any coverage for information privacy violations (HIPAA)? Does this policy provide coverage for my premises such as “slip and fall”? Are there consultative resources available if I have a question? What happens if I need to change my policy before the renewal date? How can I apply for the coverage? How soon may I obtain proof of coverage? Can I get coverage (and a discount) for my group practice? Where do I mail my application and/or check? Who can I call if I have additional questions?

• Online New Application
• New Application
• Alaska New Application
• Arkansas New Application
• Maine New Application
• Renewal Application
• Alaska Renewal Application
• Arkansas Renewal Application
• Maine Renewal Application

• Policy Contract
• Alaska Policy Contract
• Arkansas Policy Contract
• Cyber Suite Policy Contract
• New York Cyber Suite Policy Contract

Claims Made vs. Occurrence Form Professional Liability Policies

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.

Cyber and Security Coverages For Psychologists

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.

Highlights of the Endorsement

Coverage:

• 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.

Risk Management:

Access to eRiskHub®, a risk management portal designed to help prepare and respond effectively to data breach and cyber attacks.

Other Services:

• 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.

Claims:

Managed by experienced and dedicated cyber claim specialists with industry knowledge.

Eligibility:

Available as a coverage endorsement to existing American Professional Agency psychologists insureds. Available in most states on an admitted basis.

Limits and Cost:

• 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.

CYBER SUITE COVERAGE ENDORSEMENT for New York residents only

CYBER SUITE COVERAGE ENDORSEMENT for all residents except NY

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