What is Professional Liability Insurance for Mental Health Providers?
Professional liability insurance for mental health providers, whether it be counselors, psychologists, or behavioral health professionals, provides protection from patients or coworkers who claim their negligence at work caused an injury. This could be a wrong diagnosis, an infraction of HIPAA privacy laws, or any number of things. While many employers may claim to cover malpractice related claims, the interest of the individual employee could be viewed as secondary to the employer, clinic, or office that owns the policy.
With individual liability insurance, the monetary coverage and the policy benefits are guaranteed for the policy owner’s sole use. Liability insurance for mental health counselors protects you from litigation expenses, as well as gives you a team of industry experts that fight for your personal assets, financial future, and professional credentials.
What Types of Mental Health Malpractice Insurance Policies Does CM&F Offer?
There Are Two Types of Mental Health Malpractice Insurance Policy Options:
The two types of basic malpractice insurance policy options are occurrence and claims-made. CM&F offers both claims-made, and occurrence malpractice insurance policies to psychologists, counselors, or behavioral health professionals. An occurrence policy means that if a claim is made against a psychologist regarding a past incident that occurred during a time they were previously covered under CM&F liability insurance, that claim will be covered by CM&F even if the professional has since ended their coverage.
Since most malpractice claims are made 18-24 months after an incident occurs, occurrence protection is usually recommended. Claims-made insurance policies only protect professionals if they have insurance at the time of the claim. With occurrence policies, there is no need for mental health professionals to renew or buy tail coverage should they choose to leave CM&F or retire.
Where is My Mental Health Malpractice Insurance Applicable?
CM&F’s mental health malpractice insurance coverage is portable, covering you 24/7 at any number of workplaces. All personal malpractice insurance coverage is attached to the individual, not their place of work. Not having your own portable coverage, separate from your employer’s shared policy, limits your protection to duties performed for that sole practice during your work hours. For counselors, psychologists, or behavioral health professionals who contract, work at multiple places, have private clients, or simply helped a samaritan while off-duty in an emergency situation, a portable professional insurance plan is a must.
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