Neurology – the Science of the nerves and the nervous system, especially of the disease affecting them. This is done by a Neurologist who is a physician specializing in neurology and is trained to investigate, or diagnose and treat neurological disorders.
PRODUCT BENEFITS & HIGHLIGHTS:
• Defense Expenses related to Licensing Board Hearings and Other Proceedings: Limit of $50,000 per proceeding with NO annual aggregate (higher limits are available up to $150,000)
• Insured’s Consent to Settle is required in the settlement of any claim – No arbitration clause
• First Party Assault and Battery Coverage: Up to $25,000 reimbursement for 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
• Emergency Aid Coverage: Reimbursement up to $15,000 in costs and expenses for medical supplies and up to $100.00 in lost earnings expenses and lost earnings related to the provision of emergency treatment or services at the scene of an accident, medical crisis or disaster
• Punitive Damages Coverage: Limit of $250,000 (where allowable/insurable by law)
• 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 on your premises
• 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)
• Years accrued with prior APA-endorsed program will count towards free tail coverage
• Claims-Made (“prior acts” coverage is available so no need to buy tail coverage when switching) or Occurrence-Based Coverage with limits up to $2 million per occurrence/ $6 million per policy year
• No Surcharge for Claims and No Deductible
• Individual, group and corporate coverage – separate limits of liability are available
• Broad coverage policy includes Personal and Advertising Injury Coverage, Medical Director Coverage, Publishing of articles or books and broadcasting activities, Telemedicine Coverage, ECT Coverage, and Forensic Practice Coverage
• Coverage for Peer Review and Utilization Review Activities, Clinical Trials
• Payment of Defense Expenses is in addition to the Limit of Liability for Professional and General Business Liability Coverages
• Interest-free quarterly payments and online credit card processing are available
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/record retention, privacy questions and other practice related issues
• Our 24/7 Risk Management Support Hotline is available and can be used after regular business hours as a comprehensive service for emergency issues provided to our policyholders
• Frequent Educational Risk Management Presentations and written material are offered
• Policyholders can access complementary risk management CME through the American Psychiatric Association’s online learning center
• Online Risk Management Education Courses with Medical Risk Management, Inc.
• Quarterly Risk Management Newsletter written exclusively for psychiatrists
MULTIPLE PREMIUM DISCOUNTS:
• 50% Part Time Discount for up to 20 client hours a week or less
• 50% Resident-Fellow Member Discount
• Up to 50% New Doctor Discount (for those who qualify)
• 10% New Policyholder Discount (must be claims free for the last 6 months)
• 15% Child and Adolescent Psychiatrist Discount for those whose patient base is more than 50% Children and Adolescents
• 10% Claims Free Discount for those practicing 10 years, after completion of training, and remain claims free (where allowable)
• 5% Risk Management Discount for 3 hours of CME (Above Coverage Features and Discounts are subject to individual state approval)
|15%||Child and adolescent Practitioners|
|10%||Claims Free Discount (Not available in NY)|
|50%||New Doctor First Year|
|35%||New Doctor Second Year|
|25%||New Doctor Third Year|
|15%||New Policy Holder (Not available in NY and AK)|
FILL IN FORMS
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:
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.
The customer service representative took the time to fully engage with this client. She was attentive to my needs. She demonstrated active listening skills, empathetic listening skills, as well as consistently seeking adequate clarification skills. In doing so, she provided this veteran with excellent customer service.
– Brittany England
My name is Patty Meek; I am a school psychologist in private practice and have professional coverage through American Professional Agency, Inc. I operate in the same fast-paced, sometimes seemingly insane world that most of us live in, and the people at American Professional Agency have, for years, always provided a breath of fresh air. Guess what? They answer the phones. They seem genuinely happy with their jobs and their days, and they seem to like each other. And when I have a question, I get help immediately. It’s hard to believe a business like this still exists, but it does! I cannot recommend American Professional Agency highly enough.
– Patty Meek, Ph.D.
I have been a customer of Allied for many years and have consistently experienced some of the best customer service I have encountered. All my requests or questions, whether on the phone or in writing, are dealt with promptly, politely and professionally. Even better everyone I talk to on the phone is kind, friendly and helpful. It is a pleasure dealing with a company – I am consistently impressed with your service. Thank you.
– Catherine Christo
Thank you for your excellent service and kindness – as always. Between your company and my Attorney, I am pleased with the process and outcome.
– Roger C. Rinn, Ph. D
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.
As our customers, The American Professional Agency is committed to helping you stay up-to-date with new policies, prices and professional liability news. Feel free to contact us regarding any concerns or needs you may have with your policy or the purchase of a new one.
Hours of Operation
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.
Amityville, NY 11701
To speak with a customer service representative, Call (800) 421-6694 or (631) 691-6400. If you can have your account number or policy number with you at the time of the call, it would expedite accessing your request.