New Insurance Carrier Endorsed
APA has announced that it has selected American Professional Agency Inc. (APA Inc.) as the new provider of malpractice insurance for APA members. The company formerly endorsed by APA, PRMS, was no longer willing to keep its program exclusive to APA members. APA Inc.'s commitment to an exclusive program ensures that premium rates are based on APA members' experiences and not impacted by nonmember psychiatrists' claims. Also, the program provides a major coverage upgrade. For example, coverage for fire damage, legal liability, personal and advertising injury, and HIPAA fines and penalties is included at no additional charge. Details about the new program will appear in a future issue. In the meantime, questions may be sent to insurance@psych.
