As one of the most comprehensive coverage available to psychology practitioners, the program provides full prior acts coverage (no retroactive date). This provides members with the security and peace of mind that no potential gap in coverage might occur during retirement or parental leave.
Good news! Your Psychology Practitioner Liability Insurance policy includes 10 years of Extended Reporting Period (ERP) coverage at no additional charge. Extending the reporting period of your policy means that you are securing insurance to respond to potential future professional liability claims arising from prior incidents and exposure that occurred during your past practice.
The Professional Liability Insurance coverage is written on a “claims made” form. This means that a policy must be in place when an allegation is made, regardless of when the actual event took place. “Claims made” policies provide coverage as long as members continue to renew insurance each year. Members who do not renew coverage and continue to practice without insurance will not be covered for a claim made today for an incident that occurred in the past.
In the event a member retires or discontinues practice and does not renew insurance coverage, the policy will cover claims after the coverage period for an additional 10 years. Before returning to practice insured members must re-instate coverage.