Group Coverage
MAKE IT SIMPLE!
All providers in your practice – psychiatrists, nurse practitioners, psychologists, social workers, therapists, and other behavioral healthcare providers – can be covered under one medical professional liability insurance policy, along with the entity itself, through our issuing carrier Fair American Insurance and Reinsurance Company (FAIRCO). The many benefits of the individual program are available to the corporate entity and everyone associated with it.
To be eligible for a group policy, you must have a psychiatrist and at least one additional prescribing provider employed by the practice. Groups may also be eligible for additional discounts.
POLICY HIGHLIGHTS
One policy
One issuing carrier
Reduced paperwork
Coverage included
for telepsychiatry
at no extra cost
You don't need
tail coverage
to switch
COVERAGE DETAILS
- Nationwide malpractice insurance coverage
- A dedicated representative - an experienced underwriter - is assigned to your group
- Switch to PRMS® without purchasing tail coverage from your previous carrier
- Licensing board defense coverage of $150,000 - separate limit
- Robust discounts
- Claims-made and occurrence policies available
- Highly-rated carrier
- Professional liability: broad definition of Psychiatric Services (includes telepsychiatry, forensic services, publications, telecasting activities, peer review, teaching activities, clinical trials, etc.)
- Toll-free Risk Management Consultation Service (RMCS) helpline
- Free CME courses and a vast library of resources on PRMS U
- Flexible surplus malpractice coverage available, designed to cover unique non-standard and capacity risks that can meet the needs of your group
There’s more! See our coverage checklist for the full list of policy features, coverages and benefits.
*Actual terms, coverages, conditions and exclusions may vary by state. Unlimited consent to settle does not extend to sexual misconduct. Insurance coverage provided by Fair American Select Insurance Company (FASIC), a Delaware domestic surplus lines insurer (NAIC # 15201). PRMS, The Psychiatrists’ Program and the PRMS Owl are registered Trademarks of Transatlantic Holdings, Inc., a parent company of FAIRCO.
Defense
If your group is ever faced with a claim, you can be confident of the best defense. We provide top-notch legal counsel with a demonstrated expertise in defending behavioral healthcare malpractice actions. Many of the law firms have been with PRMS since its inception.
Providers can all be covered under a single policy and still maintain a single defense under one claim if the situation arises.
Prevention
Our risk management services and strategies are tailored to help your behavioral healthcare group avoid potential incidents and lawsuits. The toll-free Risk Management Consultation Service Helpline, staffed by experienced professionals with both legal and clinical backgrounds, provides important advice and guidance on risk management issues encountered in your group practice.
