As a mental health professional, whether it be a counselor, psychologist, or behavioral health professional, you can be held personally responsible for a variety of work-related claims. Whether it’s for medical negligence or a cyber data breach, you can be held liable even if you are not at fault. For that reason, it is important to understand all of the liability insurance coverage options for mental health professionals. Professional liability insurance for counselors or psychologists is a basic necessity for all active mental health professionals, and adding on a few coverage options below can ensure your career, assets, and future are fully protected.
What is mental health professional liability insurance?
Professional liability insurance for mental health professionals, also known as mental health malpractice insurance, protects analysts, therapists, counselors or psychologists from claims associated with wrongful practice resulting in medical expenses, bodily injury, and/or property damage, as well as the cost of defending negligence lawsuits related to such claims. There are two types of malpractice insurance for mental health providers: claims-made policies and occurrence policies. A claims-made policy offers coverage only when a claim is filed during a policy period. Occurrence policies accommodate long-tail situations, or events, that do not produce lawsuits or claims right away. While a claims-made policy may have a lower premium than occurrence, a claims-made policy owner may need tail coverage to protect themselves from negligence claims made after the policy expires.
What is workplace liability insurance?
Workplace liability insurance protects mental health or psychology business owners from financial losses should an employee or patient be injured in the workplace. The injury can be both work-related, or simply just an unfortunate accident. All of CM&F’s mental health group professional liability insurance policies include workplace liability coverage.
What is general liability insurance for mental health professionals?
General liability insurance for mental health professionals cover physical risks, such as bodily injury or property damage. It differs from professional liability insurance, which is coverage for errors and omissions in provider services. General liability is available as an add-on available to self-employed mental health professionals, as well as mental health group liability insurance holders with CM&F.
What is cyber liability insurance?
Cyber liability insurance for healthcare businesses covers the cost to recover from a data breach, virus, or other cyber attacks where patient PII/PHI is compromised. It also covers the legal claims that result from a patient data breach. Mental health group/clinic owners should invest in a cyber liability insurance policy to protect the future of their business.
CM&F has made it their goal to protect all counselors, psychologists, or behavioral health professionals by offering a full-suite of affordable liability insurance options for mental health professionals that are designed to bring you peace of mind as you grow your career.
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