Allied World Assurance Company said that its US specialty liability group, in concert with American Professional Agency, has secured the endorsement of American Psychiatric Association (APA) to offer a professional and business liability product to APA's 38,000 member professionals.
According to Allied World, its professional and business liability program for psychiatrists is open to individual and group practitioners, and provides coverage with limits of up to $2m/$6m.
In addition, the program which is available to members of the APA, will be offered on both a claims-made and an occurrence form in all 50 states on an admitted basis.
The company said that with this endorsement, both the companies are focused on providing a specific insurance need of mental health professionals.
Al Fantuzzi, vice president of programs business at Allied World, said: “This new endorsement from the APA recognizes the value that is created by combining Allied World’s and American Professional’s complementary skill sets and expertise in the field of risk management for mental health professionals.
Further, it will allow both firms to build on our long record of success in serving the insurance needs of Psychiatrists.”
James Scully, MD, CEO and medical director of APA , said: We believe that the combined services of Allied World Assurance Company and American Professional Agency will provide our members with the highest quality insurance coverage.