Does The Trust offer premium payment options?
Yes. Policy premiums may be paid either annually, semi-annually or quarterly. In most states, the quarterly payment options are available only if the annual premium exceeds $800.00, and for the semi-annual option, only if the annual premium exceeds $600.00. Quarterly premiums must be set up for automatic bill paying and using Visa, MasterCard or Discover.
Is there a fee for paying by installments?
Yes. In most states, there is a $4.50 per installment service charge. The service charge does not exceed $4.50 per installment.
What forms of payment does The Trust accept?
Check, Visa, MasterCard and Discover.
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 1,040 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 CE discount?
- 5%: There is a 5% discount for continuing education from an organization approved by APA to offer CE credit 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%.
- 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.
- 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. 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 Management discount is then applied to all owners and employees.
How do I know whether a course is APA-approved?
APA requires all organizations approved to offer CE credit 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 organizations approved to offer CE credit 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
|6 to 10
|11 to 15
|16 to 19
|20 or more
||referred to the carrier for special consideration
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