2016 Annual Report

Dear Trust Policyholders and Colleagues:

I am pleased to post this 2016 year-end review to keep our policyholders informed about our activities, insurance programs, and plans going forward. We hope you will take a moment to read this brief summary

Among the highlights:

  • Since opening its professional liability and other insurance programs to all psychologists and psychologists-in-training in the U.S., The Trust has continued to achieve growth, stability, and a reputation as the go-to provider of insurance and risk management services – established by psychologists for psychologists.
  • ACE American Insurance Company, the successful underwriter for the Trust Sponsored Professional Liability and Business Office Insurance Programs, acquired insurance giant Chubb and adopted the Chubb name. This created the world’s largest publicly traded property and casualty insurance company, laying an even stronger financial foundation for The Trust’s programs.
  • The Trust continues to materially support psychologists and the organizations representing them. Ongoing supportive relationships include those with the American Psychological Association (APA) and American Psychological Association Practice Organization (APAPO), The National Council of Schools and Programs of Professional Psychology (NCSPP), The American Psychological Foundation, and more than 40 State Psychological Associations.
  • Our educational programs continue to grow! We added a new live workshop and a number of new on-demand webinars through The Trust Practice and Risk Management Association (TrustPARMA), with much more practice and risk management training available soon.

As the behavioral healthcare professions continue to evolve, we use our expertise and experience to ensure that our insurance, asset protection, risk management, and educational programs are innovative and relevant to changing professional needs.

I have enjoyed seeing many of you at conferences and conventions, and I look forward to future interactions.  Please be sure to introduce yourself to me, and let’s talk about any ideas you have about products and services we might consider at The Trust for you and your colleagues.

We truly appreciate your participation in our programs, and we hope that they provide you with protection, peace of mind, and support for you and your work as a professional psychologist.

Jana N. Martin, Ph.D.
Chief Executive Officer
The Trust


The Trust and Trust Risk Management Services

The Trust remains a leading provider of insurance and risk management programs for psychologists, psychology students, and related individuals in the United States. Its insurance programs include The Trust Sponsored Professional Liability Program and Business Office Insurance; financial security programs offering Life, Disability, Office Overhead, and Auto and Home Insurance; and other programs offering Long Term Care Insurance and Retirement Plan Services. Its risk management programs include the Advocate 800 Consultation Service, Ethics and Risk Management Continuing Education Workshops and Webinars, and independent learning publications.

The Trust’s Board of Trustees is composed of psychologists with strong ethics, practice, and business backgrounds, along with insurance industry professionals with expertise in malpractice, property and casualty, personal, and other lines of insurance protection. The psychologists are attuned to the discipline and profession; the insurance experts help design coverage that is innovative and broad; and all Trustees and staff work to keep The Trust’s insurance plans financially strong and competitive.


The Trust works with highly-rated insurance companies to underwrite its insurance programs. The Trust Sponsored Professional Liability and Business Office Insurance Programs are underwritten by ACE American Insurance Company. In 2016, ACE acquired Chubb, creating the world’s largest publicly traded property and casualty insurance company, and adopted the Chubb name. The suite of financial security programs offering Life, Disability, Office Overhead, and Auto and Home Insurance continue to be underwritten by Liberty Mutual; Long Term Care Insurance is brokered through Burling Insurance Group; and Retirement Plan Services are provided by UBS.

The Trust’s subsidiary, Trust Risk Management Services, Inc. (TRMS), acts as Broker and Administrator for The Trust’s Professional Liability, Business Office, and Directors and Officers lines of insurance. Brokerage and administration services include policy underwriting, issuance, and lifecycle management; customer service; and technical services. TRMS is fully licensed to do business in all jurisdictions.


2016 Highlights

  • Insurance products continue to be available to all psychologists.
    A quick reminder that The Trust’s products and services are available to ALL psychologists and psychologists-in-training in the U.S. While The Trust supports organizations representing psychologists and strongly recommends joining them, membership in a particular association is not required to purchase The Trust Sponsored Professional and Student Liability Insurance, Group Term Life, Income Protection (Disability), Office Overhead, and other financial security products.
  • Important news for professionals working in Allied Healthcare settings.
    The Trust Risk Management Services (TRMS) Allied Healthcare Professional Liability Insurance Program now offers very competitive professional liability insurance coverage to Allied Healthcare Professionals in more than 120 professional classes, including Counselors, Social Workers, Marriage and Family Therapists, Audiologists, Employee Assistance Professionals, Play Therapists, Occupational Therapists, Physical Therapists, Speech Therapists, and many more.
  • Changing of the guard in The Trust’s Advocate 800 Risk Management Service:

    • The Trust’s longtime consultant, Eric A. Harris, Ed.D., J.D., retired from presenting workshops and Advocate consultations in August. Dr. Harris will continue to be active in the psychology community and apply his legal and psychological expertise in a variety of settings.

    • In honor of Dr. Harris’s lifelong contributions to the discipline and profession of psychology as well as his longtime services through The Trust’s Advocate 800 Risk Management Program, The Trust and The American Psychological Foundation (APF) established The APF/The Trust Eric A. Harris, Ed.D., J.D. Grant, intended to support early career psychologists or graduate students for research or projects in the area of ethics and risk management. You can learn more about grant eligibility and download an application/request for proposals here.

    • The Trust welcomed Amanda D. Zelechoski, J.D., Ph.D., ABPP, to its Risk Management Team. A licensed clinical and forensic psychologist and attorney, Dr. Zelechoski is Assistant Professor of Psychology at Valparaiso University; is board certified in Clinical Child and Adolescent Psychology; conducts forensic and psychological evaluations and has provided training and consultation to numerous mental health, law enforcement, and correctional agencies; and has worked clinically with adults, children, and families in inpatient, outpatient, and forensic settings.

      Dr. Zelechoski joins consultants Daniel O. Taube, J.D., Ph.D., and Joe Scroppo, Ph.D., J.D., to present Ethics and Risk Management CE Workshops and provide free confidential risk management consultations to psychologists insured through The Trust Sponsored Professional Liability Insurance Program.

      The Trust continues to prospect for new ethics and risk management content and experts to bring online in the near future.
  • Connect with The Trust and TRMS on social media.
    The Trust and Trust Risk Management Services (TRMS) continue to gain more friends, followers, and professional connections and disseminate timely content on social media. You can follow The Trust by visiting its pages at Facebook, Twitter, LinkedIn, and Google+. You can also follow TRMS by visiting its pages at Facebook, Twitter, LinkedIn, and Google+.
  • Continued relationship with AATBS and Taylor Study Method.
    The Trust worked in 2016 to establish a mutually-beneficial relationship with The Association for Advanced Training in the Behavioral Sciences (AATBS) and Taylor Study Method (TSM), the go-to organizations offering psychology and allied health professional licensing exam preparation courses and continuing education.

  • Enhancements to Trust Sponsored Professional Liability Insurance Policy.
    Commencing in October 2016, The Trust’s professional liability insurance coverage added options to upgrade licensing board defense/other governmental regulatory defense reimbursement coverage limits to $25,000/$7,500, $50,000/$10,000, $75,000/$12,500 and $100,000/$15,000. Also in 2016, the State of Maryland Legislature reversed its requirement that these two coverages be sold separately from professional liability insurance policies – thus beginning in April of 2017, licensing board defense and other governmental regulatory defense reimbursement coverage may be included when purchasing professional liability insurance in Maryland.

  • Collaborations with key psychological organizations.
    The Trustees renewed their support for partnerships with selected institutions and organizations representing psychologists – including State, Provincial, and Territorial Psychological Associations (SPTAs). The Trust is now well into the current cycle of partnership and support for SPTAs, including participation from 41 State Psychological Associations. The Trust provides financial and material support in a variety of ways, including support for meetings and events, membership recruitment and retention, and ethics continuing education. In addition to its ongoing partnership with the American Psychological Association (APA) and the American Psychological Association Practice Organization (APAPO), The Trust has joined forces with and sponsored activities benefitting the National Council of Schools and Programs of Professional Psychology (NCSPP), the Council of Executives of State and Provincial Psychological Associations (CESPPA), the American Psychological Foundation (APF), and many others.

  • Sharing the program’s success with policyholders.
    The Trust has a fiduciary and an ethical responsibility to ensure that its programs and those of its insurance and financial security partners remain strong and competitive over the long term. The Trust also believes that investing revenues in programs that protect, educate, and reward policyholders beyond basic insurance coverage is of critical importance. The Trust supports these programs in a number of ways. These include:

    • New Ethics and Risk Management Seminars (in 2016 and 2017).
      The Trust continues to tour the U.S with continuing education workshops conducted by licensed psychologists with extensive legal, ethical, and risk management expertise. The workshops offer CE credits for all psychologists, and insurance premium discounts for those insured through The Trust Sponsored Professional Liability Insurance Program. The Trust is now touring with Working with Couples and Families, Risk Management with the Suicidal Patient, and Legal and Ethical Issues Presented by Retirement, and it will debut another new workshop in 2017.

    • New risk and practice management on-demand webinars.
      The Trust added new on-demand webinars in 2016 and scheduled more for 2017. These webinars provide opportunities to earn CE credits and insurance discounts. Get details for all webinars and more here.

      • Ethical Retirement for You and Your Practice
      • The Psychology of Money for Psychologists and Other Mental Health Professionals
      • Legal and Ethical Risks and Risk Management in Professional Psychological Practice: Working with Couples and Families, Risk Management with the Suicidal Patient, and Legal and Ethical Issues
      • Ethical and Risk Management Issues in Supervision
      • Practice in the Age of Telepsychology
      • Ethics and Risk Management in the Age of the Affordable Care Act
      • Minors, Consent to Psychotherapy, and High Conflict Parents: Parsing Ethics, Cultural Needs, and California Law
      • Preventing and Responding to Licensing Board Complaints
    • Advocate 800 Consultation Service.
      The Trust continues to make available confidential telephone consultations with The Trust Advocates – licensed psychologists with extensive legal, ethical, and risk management expertise. This service is provided free of charge to those insured through The Trust Sponsored Professional Liability Insurance Program, and it has proved to be an invaluable prevention tool for thousands of policyholders.

    • Independent Learning Modules.
      Ethics and risk management continuing education independent learning is available via the second edition Assessing and Managing Risk in Psychological Practice: An Individualized Approach (with free eBook downloads available to policyholders) and an online exam.

    • Longevity Rewards.
      Determined by the Trustees on an annual basis, The Trust provides a longevity reward to individuals and groups insured for more than five continuous years through The Trust Sponsored Professional Liability Program.

Among events coming in 2017:

  • More risk and practice management content from The Trust and the Trust Practice and Risk Management Association (TrustPARMA):

    The Trust and TrustPARMA have ambitious plans to develop even more ethics and risk management resources for policyholders, psychologists, and allied health professionals. Workshops and webinars are already scheduled, and many more will be added, new content and CE modules are being explored, and special presentations involving TrustPARMA are being prepared. Examples of new content coming in 2017 include:

    • Using Evidence to Demonstrate the Performance, Quality, and Effectiveness of Your Practice or Your Agency – with Patrick Miles, Ph.D.
    • Ethics & The Law: Complications in Communications with Clinical and Forensic Clients – with Jeffrey N. Younggren, Ph.D., ABPP.
  • The Trust Student and Early Career Psychologist Advisory Committee:
    The Trust is aiming to establish an advisory body to focus specifically on practice, ethics, and risk management issues facing psychologists in the early stages of their careers and provide practical information and other useful resources.

Quick overview of The Trust’s insurance and financial security programs:

  • The Trust Sponsored Professional Liability Insurance Program Protects psychologists and their practices, as well as psychologists and students in research and academic settings, from the financial impact of a malpractice lawsuit, as well as investigations from licensing boards and other governmental regulatory bodies.

    • Learn more about Psychologist Professional Liability Insurance here.
    • Learn more about Student Liability Insurance here.
    • Learn more about Researcher and Academician Liability Insurance here.
  • Business Office Insurance (BOP)
    Designed for small to medium-sized businesses, this combines essential coverages in the areas of general liability and property – protecting against fire, theft, lawsuits, etc. Learn more here.

  • Income Protection (Disability)
    Provides income and protects assets until you’re able to return to work. Plan choices include LifeStyle Plans with a “Your Own Occupation” definition of disability. Get details here and view a brief video about Disability Insurance here.

  • Group Term Life
    The Trust’s Group Term Life insurance offers a continued income stream and asset protection for dependents in the event of the policyholder’s premature death. Get details here and view a brief video about Group Term Life Insurance here.

  • Auto, Homeowners, and Renters
    Auto, Home, and Renters Insurance and other lines such as personal liability (umbrella), flood, and ID theft, at special savings. Learn more here.

  • Office Overhead
    Provides reimbursement for general business expenses including mortgage interest, employees' salaries, association dues, utilities, janitorial services, and more. Get details here and view a brief video about Office Overhead Insurance here.

  • Long Term Care
    Long Term Care (LTC) Insurance helps cover the cost of long-term care due to illness, accident, or the normal effects of aging; and gives the policyholder control over where care is received. Learn more here.

  • Retirement Plan Services
    Plans are customized to each person’s or business’s needs, including 401(k) Plans, Simplified Employee Pension Plans (SEP-IRA), Savings Incentive Match Plans for Employees (SIMPLE IRA), and Profit Sharing/Defined Benefit Plans. Learn more here.

  • Directors and Officers Insurance (D&O)
    Covers the directors and officers of nonprofit organizations and the organization itself for losses or advancement of defense costs against losses resulting from legal actions usually brought for alleged wrongful acts. Call 1-800-477-1200 for more information.

  • We continue to value you as a policyholder, and we thank you for reading this report and catching up on some of The Trust’s goals, activities, and plans. We’re excited about creating and implementing new opportunities for psychologists to be protected and supported through enhanced service provisions, relevant educational resources and consultations, and new financial security products. After all, The Trust was established for psychologists by psychologists. With our Board that includes seven psychologists, including our CEO, The Trust understands the work, challenges and needs of psychologists, and we let our experiences and knowledge of the profession guide us to finding the best ways to serve you. Thank you for being a policyholder.

    Please send any comments or questions to insurance@trustinsurance.com.