Psychiatrist – APA Frequently Asked Questions

“Frequently Asked Questions”
Regarding the new American Psychiatric Association (APA)
Medical Liability Insurance Endorsement
with American Professional Agency, Inc. (“APA, Inc.”)
(updated 10/2015)

American Psychiatric Association

1. The name of the new APA-endorsed medical malpractice insurance program (“APA, Inc.”) is very similar to the APA. Is “APA, Inc.” an affiliate or a subsidiary of the APA, or is there another relationship between the two organizations?

The similarities in our acronyms are purely coincidental. The American Psychiatric Association (APA) selected American Professional Agency, Inc. (“APA, Inc.”) as its provider of malpractice insurance based on their industry reputation as a leading national provider of mental health professional liability insurance, as well as their commitment to keep the program exclusive to APA members to ensure that premium rates are based on APA members’ experiences and not impacted by nonmember psychiatrists’ claims.

2. What insurance coverage is available to members through the APA-endorsed program with American Professional Agency, Inc. (“APA, Inc.”)?

The program with APA, Inc. offers members access to both occurrence and claims-made forms. Please visit APA, Inc. web site for rates and applications in your state.

3. I already use American Professional Agency, Inc. (“APA, Inc.”) for my liability insurance. Will they offer me a better deal if I reapply as an APA member?

Members will automatically be upgraded to the new APA program upon renewal, once it is approved in the member’s state. If it has not yet been approved in your state, you will receive an endorsement at that renewal that says upon approval in your state, your coverage will reflect all the field enhancements to coverage. On claims-made policies, the coverage improvements are retroactive to the date specified in your declarations page, appropriately called “retroactive date.” If your retroactive date is 20 years ago, the new improvements go back 20 years. Occurrence policies cannot be upgraded retroactively.

4. If the cost of the APA policy is less than my existing American Professional Agency, Inc. (“APA, Inc.”) policy, will I automatically get a price decrease?

Insurance regulations prohibit American Professional Agency, Inc. (“APA, Inc.”) from changing rates mid-term. The lower rate would go in effect upon renewal.