Emerging Risks Require
Enhanced Coverage
As the practice of psychiatry evolves, so should your malpractice coverage. The dedicated experts at PRMS® continually monitor emerging issues in the field of psychiatry and have responded with an enhanced policy through our issuing carrier Fair American Insurance and Reinsurance Company (FAIRCO) to keep you and your practice safe from increased risk.
In addition to our already comprehensive policy, which includes medical professional liability and business liability, we have added the following coverages at no additional cost based on our expert knowledge of the issues and risks psychiatrists face:
NEW HIGHER LIMIT
Up to $150,000 for defense of licensure in connection with any proceeding brought about by licensing board, professional society, hospital or healthcare organization.
NEW HIGHER LIMIT
Up to $30,000 to manage the crisis of a breach, including credit monitoring and professional services needed to notify patients.
NEW SEPARATE LIMIT
Up to $50,000 for defense, fines and penalties (where allowed by law) arising out of any investigations or civil proceedings concerning actual or potential HIPAA violations.
NEW SEPARATE LIMIT
Up to $25,000 for any investigation or civil proceeding brought by actual or potential violations of Medicare/Medicaid regulations.
NEW COVERAGE
Up to $30,000 for expenses incurred due to assault upon an insured by a patient.
NEW COVERAGE
Up to $2,500 for expenses incurred as a result of the unexpected and sudden interruption or closure of your medical practice due to your illness, death or disability.
NEW SEPARATE LIMIT
Up to $100,000 for medical expenses incurred by a person with a bodily injury caused at the insured’s premises.
NEW SEPARATE LIMIT
Up to $150,000 for claims arising out of fire damage to an insured’s business premises.
WHERE IS THE ENHANCED
POLICY AVAILABLE?
This enhanced policy is currently available in many states and will be available nationwide pending state approvals. Below are the states in which this policy is currently offered. For doctors in those states where the enhanced policy is not yet approved, please know that we continue to offer our existing comprehensive coverage.
If you are currently insured with us, you will be notified via email when the enhanced policy is available in your state. The policy will then take effect upon your next renewal.
To learn more about how we protect psychiatrists and to receive a personalized quote, complete and submit the form below.
Request More Information
CONTACT US TO LEARN MORE!
(800) 245-3333
TheProgram@PRMS.com
Features and Benefits
Discover the included features and benefits of the enhanced policy with our checklist.
CME SEMINARS
Our in-house risk managers develop and deliver acclaimed CME seminars throughout the country. Find one near you!
PRMS AND GAP WORKING TOGETHER
PRMS® is proud to endow the Child Psychiatry Fellowship for GAP.
For every referral,
we donate to
mental health
Refer colleagues to PRMS® and we will donate $50 to the mental health organization of your choice - regardless of whether a policy is purchased!