Ollie123

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Feb 19, 2007
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Transitioned to my new position shortly after renewing my malpractice coverage, but its time to renew again so I'm now looking into it more closely.

We have a "captive insurance company" that is a subsidiary of the university with whom we are required to buy coverage out of our cost center (eat-what-you-kill model, at least right now). The rates are pretty good, the coverage is very high for my fairly run-of-the-mill, relatively low-risk psychology practice (3 million/incident; 10 million/aggregate). However, I'm debating also picking up a separate personal policy. I should qualify for an academic one through APA Trust, which is a dramatically lower rate (makes sense given clinical is a smaller portion of my effort). The main reason is that this just seems very sketchy to me. There seems a clear conflict of interest to have a university entity as my malpractice carrier since in the event of a claim, our interests could very well be different. They are also being really vague about the details (i.e. gave me a letter confirming coverage, but are refusing to provide any sort of contract detailing what the coverage includes, policies, etc.). Most psychologists here don't carry separate malpractice (actually haven't found one yet who does).

Just curious if any of you other AMC-based folks have a similar system in place and how you have handled it. It makes perfect sense to me why they would want to cover this themselves - just like with many large employers providing the financial coverage for their own health insurance pools these days, I'm sure it is financially advantageous. Part of me doesn't want to worry about it too much, given the nature of my practice and the fact that claims against psychologists in general are quite rare (I think I saw < 2% lifetime prevalence for even having a malpractice suit brought and that is likely skewed towards those in higher risk areas). I'm nonetheless a bit twitchy about this and considering sinking a few hundred dollars/year into my own policy. If they'd just give me the policy details to review I'd feel a lot better about it, but the fact that they are either withholding it or it doesn't exist has me rather nervous...
 
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PsyDr

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The trust can pro-rate insurances based on your work and offers free quotes. For me, the board complaint rider is worth it alone.
 
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PsyDGurl

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I can't speak to your specific situation but I do know that I've either been provided with or explained the details of my liability coverage at/before signing up. The fact that they are not forthcoming with this information is a bit suspect IMO. Granted I am in Canada, but most organizations here will provide insurance for their employees with the expectation that they purchase additional personal insurance for all work they do in & outside the organization.
 

Therapist4Chnge

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We recently talked about this...and it is probably a good idea. I highly recommend the APA Trust. They are very transparent about their structure/process/plans and they offer good rates.
 

bmedclinic

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I use the APA Trust as well. I enjoy how respectful and quick they are to do their work. When I needed to increase my malpractice insurance a few weeks ago, it only took a phone call on my way home from work.
 

AcronymAllergy

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If I were to get malpractice (no need currently), it'd likely also be through APA Trust. If for no other reason than the swanky postcards they keep sending me in the mail.
 

Pragma

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Part time through the Trust is affordable. But there are other companies out there if you want to invest the time to compare.

Not sure what the academic malpractice will do for you in clinical settings though. Apples and oranges.
 
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Ollie123

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Part time through the Trust is affordable. But there are other companies out there if you want to invest the time to compare.

Not sure what the academic malpractice will do for you in clinical settings though. Apples and oranges.
They have an academic one that also covers part-time clinical work and/or supervision. Sounds like its basically just pro-rated such that someone who sees 5 patients a week isn't paying the same as someone seeing 35 patients a week.

To clarify - I'm not asking about APA Trust vs. other companies. I'm just wondering if those of you who do have required malpractice policies you pay into through your employer have also elected to pick up additional coverage, and what has factored into that decision.
 
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LM02

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I have had the part-time Trust insurance for years, and it has been worth the extra peace of mind. I have also had very little success obtaining much detail about the liability coverage through work, but my position is a bit complicated in that I am technically 100% research. So the liability insurance from my employer covers any clinical work that falls within my teaching and research duties - but if I do anything clinically outside of a research context, I wouldn't have coverage. My clinical and research duties are so blurred, it was worth it to me to just pony up a few extra hundred bucks per year. I deduct it from my taxes, so there's that...
 
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Pragma

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They have an academic one that also covers part-time clinical work and/or supervision. Sounds like its basically just pro-rated such that someone who sees 5 patients a week isn't paying the same as someone seeing 35 patients a week.

To clarify - I'm not asking about APA Trust vs. other companies. I'm just wondering if those of you who do have required malpractice policies you pay into through your employer have also elected to pick up additional coverage, and what has factored into that decision.
When I had looked awhile back the academic one did not cover any part time clinical. If it does now that sounds like a good deal.

ETA: I checked out the website and saw this. It is a newer product because the one with clinical work was not there a few years back.

I'd compare the rates for the straightup part time clinical and this combined one. How it is worded leads me to believe this has more limits on it (e.g, it covers you for your AMC clinical work but nothing you do on the side). I'd look at them side by side.

When I signed up someone there spent a bunch of time talking on the phone with me to answer all of my questions. Very helpful although some colleagues tell me there are cheaper options.
 
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