Risk Management Resources Available at 2006 Annual Meeting

Q. Will the Psychiatrists' Program have customer service staff at APA's Toronto annual meeting, and will Program staff be presenting at any risk management or insurance sessions?

A.Yes, the Psychiatrists' Program will be located at booth #662 in the Exhibit Hall. Risk managers and insurance underwriting specialists will be present to provide individualized insurance information and risk management advice for psychiatrists. Complimentary risk management articles and information about upcoming seminars will also be available.

If you are a participant of the Psychiatrists' Program, be sure to visit our booth and receive complimentary copies of our most-requested materials as our thanks for your participation. You'll receive a “For Participants Only” package and a valuable customer resource guide.

Program staff will also be presenting at the following sessions:

During the meeting, please be sure to check the conference schedule for any last-minute changes to times or locations.

Additional information is posted on the Program's Web site at<www.psychprogram.com>.

Q. I have been in private practice for 12 years and have maintained professional malpractice insurance the entire time. How long must I keep copies of my malpractice policies? If I am sued and cannot find my copy of the policy for that year, how do I know whom to contact?

A. Professional Risk Management Services Inc., the managers of the Psychiatrists' Program, recommends that doctors keep copies of their malpractice policies indefinitely. That's the best way to ensure that you will have proof of coverage if you need it.

Most states have laws requiring insurance agents and brokers to keep business records for some set period, but laws vary considerably. The problem with relying on your broker is simple: you may not remember his or her name or how to locate the person. We have received inquiries from psychiatrists looking for assistance in determining which company covered them prior to their coverage with the Program. We suggested that they contact the brokerage with whom they did business at that time, but they did not recall who that was.

Even if you can recall the name of your broker, it may not be you who needs to find the record—it may be the executor of your estate who is looking to establish the existence of old coverage to defend a malpractice case brought against your estate.

You may be able to go to third-party sources, but this is not a good solution. For example, if you applied for admitting privileges at a hospital in 1980, the hospital most likely asked for the name and address of your malpractice insurance company on the application. A copy of your 1980 application may still be around, or the information may be on file somewhere in the hospital database, but it may be difficult to retrieve. Furthermore, an annotation that “Dr. Smith has coverage with the ABC Insurance Company” is not by itself proof of coverage. If you then go to the ABC Insurance Co. (or its successor) and it does not have a record, you still have a problem and don't have answers to such questions as, How much coverage did you have? Was ECT covered or excluded? Was the policy occurrence or claims made? Did the policy give you the right to consent to settlement or can the company settle without your consent? Only the policy and the associated face page (known as the “declarations” page) can answer those questions.

This column is provided by PRMS, manager of the Psychiatrists' Program, for the benefit of APA members. More information about the Program is available by visiting its Web site at<www.psychprogram.com>; calling (800) 245-3333, ext. 389; or sending an e-mail to [email protected].▪