Does the Trust offer premium payment options?
Yes. Policy premiums may be paid either annually, semi-annually or
quarterly.
The semi-annual and quarterly payment options are available only if the premium
exceeds $600.00
Quarterly premiums must be set up for automatic bill paying and using Visa or
MasterCard
Is there a fee for paying by installmens?
Yes. In most states, there is a $3.50 per installment service charge. The fee does not exceed $3.50 per installment
What forms of payment does the Trust accept?
Check, Visa and MasterCard.
Is there a discount for part-time psychologists?
Yes. Each owner or employee who qualifies may receive 35% off their
premium.
How do I know if I qualify for the part-time discount?
Part-time is when the total hours in the practice of psychology average 20
hours or less per week over the year. This is an average so it is
expected that some weeks you may go over that number and other weeks you may
not see anyone. Hours includes work at multiple facilities and providing
multiple services in the practice of psychology. Practice can also include note
time, research, clinical work, teaching, and other forms of practice.
Non-psychologically oriented administrative work should not be included when
calculating hours. Part-time status can be calculated by dividing total
hours worked during a year by 52. Or ask yourself, am I working 1040 hours or
less a year?
Do I count the hours I work as an employee?
Yes. The Trust policy will often cover you where the employer leaves
off. When you are sued for your actions as an employee,
your employer typically covers you. However, there are situations where
the employer does not cover you. The employer's coverage may not be
solvent or the suit may go beyond the employer’s coverage limits. The
employer may argue that you were acting outside their scope of employment or
against the interest of the employer and decide not to cover you. For
these reasons many psychologists working for large institutions such as
universities, prisons, and hospitals purchase their own individual policy as
backup coverage. The Trust policy covers you for situations where the
employer’s policy does not, for example, private practice, volunteer work or for
licensing board investigations.
Does the Trust offer any other discounts?
Yes. The Trust offers a number of discounts that include:
- Risk Management discount of 5%, 10% or 15% for some continuing education courses.
- Switch-over discount of 10%.
- New Graduate Discount beginning at 35%.
- Group Discount of at least 4%.
Are there any discounts that cannot be combined?
Yes. You cannot combine the new graduate discount with the part-time
discount. Only the highest CE discount that you qualify for will apply.
All other discounts may be combined.
What qualifies for the Risk Management Credit discount?
- 5%: There is a 5% discount for APA-approved continuing education on any
subject. The credit must be less than 15 months old and count for four or
more hours. The discount is not cumulative. The maximum is 5%.
-or-
- 10%: Read the Trust’s book Assessing
and Managing Risk in Psychological Practice: An Individualized Approach and
pass an online exam for a 10% discount.
-or-
- 15%: Instead of taking the 5% or 10% discount, one may take a 15% for two
years when they participate in a Risk Management Workshop. The
Trust provides about 30 workshops a year nationally. Most are presented
by Eric Harris, JD, Ed.D. or Jeffrey Younggren, Ph.D., ABBP. In all cases,
workshop attendance earns six continuing education units. Though it is no
longer sold, the Trust also gives the same discount for the independent study
program, "Risk Management with Potentially Dangerous Patients."
Please note that we do not combine any of the Risk management discounts.
In order to qualify, please submit a copy of the continuing education
certificate, less than 15 months old, with your renewal. Unfortunately we
are unable to offer mid-year pro-rations. Under a group policy at least
50% of the rated owners and/or employees must be submit proof of continuing
education for these discounts. The Risk Managmeent discount is then
applied to all owners and employees.
How do I know whether a course is APA-approved?
APA requires all APA-approved sponsors of continuing education to include this
statement on their CE certificate: The [Name of Sponsor] is approved by the American
Psychological Association to offer continuing education for psychologists. The
[Name of Sponsor] maintains responsibility for the program. APA maintains a list of all
approved CE sponsors at:
http://www.apa.org/ce/sponappr.html
How do I obtain the Risk Management Discount?
Submit a copy of all continuing education credits (including those obtained at
the Trust Risk Management workshops), with your next renewal. Discounts
are not provided mid-year, so save your certificates until your next renewal.
How can I receive the 10% discount for switching to the Trust Professional
Liability Policy?
Simply provide the Trust with a copy of proof-of-coverage from a current
professional liability policy from another carrier. The old policy should
be less than 30 days from expiration. Include the cover sheet of the old
policy with an application for the Trust policy. We will give you 10% off your
first year’s policy with the Trust.
What is the New Graduate Discount?
The New Graduate Discount is provided to post-doctoral, pre-licensed
psychologists who are working under the supervision of a licensed psychologist.
How much is the New Graduate Discount?
The New Graduate Discount provides for a 35% discount in the first year, a 25%
discount in the second year, and a 15% discount in the third year.
Do I always receive all 3 years of the New Graduate Discount?
No. Once you become licensed, you will no longer be eligible for the discount.
How is the group discount calculated?
The discount is based on the number of owners and employees listed on the policy. Here is the breakdown:
| 3 to 5 | 4% |
| 6 to 10 | 6% |
| 11 to 15 | 8% |
| 16 to 19 | 10% |
| 20 or more | referred to the carrier for special consideration. |
