Liability Insurance: Counselors and Therapists

  • Friday, May 31, 2019
professional liability insurance counseling, professional liability insurance for mental health providers, mental health professional liability, malpractice insurance for therapists

Professional Liability aka Malpractice Insurance protects professional services such as mental health, counseling, therapy, etc. But what about teletherapy or cyber liability coverage? Online or in-person: CPH & Associates has you covered.

Online therapy (teletherapy, telehealth) is booming and to the benefit of mental health professionals and their clients. With online platforms like TheraPlatform , therapists have the flexibility to work from just about anywhere and their clients can book sessions with ease and convenience. It’s important to know if your professional liability insurance provider is there to support your practice. CPH & Associates and TheraPlatform have teamed up to provide affordable and comprehensive coverage.


What is Professional Liability Insurance?

Professional Liability and Malpractice Insurance are different terms referring to the same thing: protection for your professional services. Mental Health Professionals dedicate their careers to helping their clients. With professional liability insurance, you have peace of mind knowing you’re protected in the event of a claim or suit, or a grievance from a regulatory board.

 

CPH Insurance Coverage Highlights Include:

 

  • Portable, Occurrence lifetime coverage follows your licensure or certification
  • Unlimited defense coverage
  • $35,000 State licensing board defense coverage
  • Optional General Liability and Property Coverage (The CPH TOP™)
  • Deposition/Subpoena expense coverage
  • Attorney helpline – 2 free hours of attorney consultation
  • A++ rated carrier for Financial Stability by A.M. Best Co.

 

CPH & Associates specializes in coverage for students, provisionally licensed interns and fully licensed professionals at competitive rates. The premium for self-employed or part-time providers start at $115/year and increases according to specialty and caseload. Corporate coverage is also available to providers who own and operate their own practice (LLC, PLLC, or S-Corp) with premiums beginning at $320/year. Discounts for newly licensed professionals and those who have completed an approved risk management course in law or ethics, as well as group discounts are available.

 Does CPH coverage include coverage for teletherapy?

Yes, online therapy is covered provided 1) such practice is authorized (or allowable) under the scope of your license in the state where you practice, 2) you are performing such services lawfully and the online platform you're utilizing is HIPAA compliant. Utilize your state-specific resources and contact your state licensing board if you are unsure.

 What about Cyber liability coverage?

If electronic data stored on your computer is lost, stolen, or compromised, the cost of restoring it can be significant. You may also be held liable for damages to third parties – those individuals whose data has been compromised. An example is a damage to your electronic data files caused by a hacker. Or, a lawsuit in which a client sues you for negligence after his personal data is stolen from your computer system and released online. CPH’s Cyber liability is protection for you in the event of a breach of your client’s electronically-stored information.

Coverage highlights include:

  • Security Event Costs: Reimbursement for costs that are a result of Security Breach, Privacy Breach or breach of privacy regulations
  • Network Security and Privacy Liability Coverage: Coverage for damages you are legally obligated to pay as a result of a security breach or privacy breach
  • Customer Notification Expense Sublimit: Expenses to notify customers of actual or suspected breach to their non-public information
  • Public Relationship Expenses: Expenses to re-establish your reputation or public image that was damaged as a result of a breach

You must have a professional liability policy with CPH & Associates in order to add the claims-made cyber liability endorsement. Two limits are currently available*, $15,000 ($87/year) and $25,000 ($141/year).

*CPH’s cyber liability is NOT currently available in the following states: Colorado, Florida, New Hampshire and Virginia and will never be offered to the states of Alaska, Louisiana, North Dakota, New York and New Mexico.

Simply put, Professional liability insurance is designed to protect you in the event you’re held liable for damages caused by your professional services. Visit CPH & Associates online to get a quote and apply to protect your practice as an individual provider or business entity. https://www.cphins.com/theraplatform/


This guest blog was written and provided by CPH & Associates

About CPH & Associate: Over the last decade, more than half a million mental and allied health professionals chose CPH & Associates for liability insurance. Because our business is specialized, we are able to focus on your liability needs in a way that bigger companies are not. Our team of associates represent over 50 years of collective experience in this field, and we are able to serve a large client base while maintaining a small-office approach. 

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