2018 Annual Report

Dear Trust Policyholders and Colleagues:

I am pleased to post this 2018 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.

The Trust stays very busy throughout the year, and 2018 was no different. Whether we’re exploring options for new joint ventures and partnerships that will benefit our policyholders, developing innovative continuing education curriculums with some of the best minds in our profession, or expanding our ever-growing slate of financial security product offerings – we accomplished a lot this year! This forward-thinking approach continues to provide The Trust with the steady growth and stable financial footing that our insureds have come to know and trust.

I’d be remiss if I didn’t bring up what many considered to be a surprising announcement from us mid-year regarding our decision to end our long-standing relationship and give up our preferred-provider status with the American Psychological Association (APA). It certainly lit up the message boards and, unfortunately, caused some confusion among our policyholders thinking they had to switch to APA’s newly chosen carrier, which, of course, was and is not the case. When I look back at what transpired during our re-negotiation process and think about how our decision was based on protecting our confidential business information as well as confidential information about our policyholders, I stand by the decision we made. After all, we are in the business of protection!

I take my position as CEO of this great company very seriously and can promise that I will always prioritize the needs of our clients. I can honestly say that I feel we are in a stronger position today because of our decision, and I know that The Trust will continue to thrive. We look forward to continuing to meet the specific needs of our profession in ways that no other company comes close to. Here are some of our highlights from 2018:

New Products:

  • Pet Health Insurance – The Trust provides insurance coverage for your entire life - not just your career - and that includes the family pet. The Trust introduced its new Pet Health Insurance at the 2018 APA Convention. We partnered with Hartville Pet Insurance to offer coverage for a dog or cat at a discounted rate. The Pet Health Insurance allows people to customize their plan and find the one that best suits their needs. It also provides peace of mind that your pet will get essential care in case of an emergency.

  • Cyber Enterprise Insurance – Increasing cyber threats and attacks on healthcare data mean psychologists need to take action to protect their patient records and practice. The Trust, through Chubb, now offers the best solution - Cyber Enterprise Risk Management, or Cyber ERM. This coverage is comprised of two extensive protection services: Loss Mitigation and Incident Response. Additional coverage is also available that includes computer fraud, digital data recovery and more.

  • Suicidality Workshop – As many licensing boards are requiring specific training in assessment and treatment of suicidal patients, The Trust has developed an important and helpful new workshop. The Trust held the Suicidality: Clinical, Ethical and Risk Management Workshop on Friday, November 30th in Tysons Corner, Virginia (our newest endorsed state). Trust Advocate Daniel O. Taube, J.D., Ph.D., presented the live workshop which was attended by nearly 800 people both in-person and via online webcast. The Trust Marketing Team worked with BeaconLive to facilitate the live workshop. Since its announcement, The Trust has received enormous interest and positive reviews for the workshop and is currently looking at possible plans to present it again at a future date. Attendees earned 4 CE credit hours and a 5% premium discount on their professional liability policy.

  • SECP Private Practice Guide – Starting a private practice is a goal for many psychologists, but it also poses a unique set of challenges. That’s why The Trust Student and Early Career Advisory Committee worked with the Marketing Team to produce the new “Starting a Private Practice: An Early Career Psychologist’s Guide.” Since its debut at the 2018 APA Convention, the guide has been very popular at exhibits and online. The brochure offers an overview of important considerations and practice tools from income planning to practice structure, billing, marketing and more. You can download your complimentary copy here.

New Partnerships:

  • Triad – In June 2018, The Trust announced its new partnership with Triad Behavioral Health. This strategic partnership will provide essential career development and financial security programs to mental and behavioral health professionals. It also empowers both companies to provide new services and professional development to current and future clients.

  • NCSPP – In July 2018, The Trust announced its new partnership with the National Council of Schools and Programs of Professional Psychology (NCSPP). This collaboration provides important career and training resources and financial security programs to graduate students aspiring to be professional psychologists along with their member schools and others involved in their education. The Trust is also a proud sponsor of the organization’s annual meetings.

  • AAPdN – In October 2018, The Trust announced its new partnership with the American Academy of Pediatric Neuropsychology (AAPdN). This new alliance provides important career development resources and financial security programs to licensed or certified providers of neuropsychological services to children and adolescents.

Enhanced Services:

  • TrustPARMA Website – There’s a new online home for the Trust Practice and Risk Management Association (TrustPARMA). The non-profit membership organization’s website debuted this past summer and provides an enhanced platform for clients to access professional resources, workshops and webinars, financial security products, and more. The website is also designed to raise the profile of TrustPARMA and increase brand awareness as TrustPARMA becomes the new "home for practice."

  • Free CE with the National Register – We co-hosted two educational webinars that were complimentary to all Trust policyholders and to National Register members. Attendees earned 1 CE credit hour.
    • On June 6th, Trust Risk Management Consultant Dr. Amanda Zelechoski, a licensed psychologist and attorney, presented “Complying with Subpoenas and Court Orders while Minimizing Your Risk” to a group of 3,343 registrations. This 1-hour free webinar tackled how to navigate the sometimes conflicting ethical and legal obligations that arise with subpoenas and court orders. The recorded webinar is available here.

    • On November 7th, one of The Trust’s esteemed ethics and risk management instructors, Dr. Eric Harris, presented “Record Keeping and Risk Management” to a group of 3,755 registrations. A licensed psychologist and attorney, Dr. Harris outlined and discussed the proper way to address record keeping and access to records from a risk management perspective. The recorded webinar is available here.

Professional Recognition:

  • The Trust Award for Excellence – We established The Trust Award for Excellence in Psychological Practice to recognize those who have gone above and beyond to support the profession. Both awards were presented posthumously in May to our esteemed colleagues Ron E. Fox, Ph.D. and Sallie E. Hildebrandt, Ph.D., for their leadership and dedication. Donations in the amount of $1,000 were made in honor of Dr. Fox and Dr. Hildebrandt to the Trinity Reformed United Church of Christ and to APA’s Division 31, respectively.

Thank you for your continued support of The Trust. I invite you to read the Annual Report that follows to learn more about The Trust’s work and what we offer that makes us stand out as the best choice for psychologists. Let us know what questions or comments you have at insurance@trustinsurance.com. We are here for you because we are you.


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

The Trust and Trust Risk Management Services

The Trust continues to serve the profession of psychology in ways that other companies simply cannot. This, of course, is by design as The Trust’s foundation is built solidly on pillars that no one comes close to emulating. First and foremost, we are psychologists too, so we can relate personally to other psychologists’ challenges, and we are in a much better position for providing solutions. We also pride ourselves on being able to offer programs that cover psychologists’ entire lives, not just their careers. This means being able to secure all your financial protection needs in one location – from life and home to auto and retirement, you can rest assure that The Trust will have you covered.

We remain the leading provider of insurance and risk management programs for psychologists, psychology students, and related individuals in the United States. Our risk management program is second to none and includes the very popular Advocate 800 Program. This consultation service is included with every professional liability policy and offers free unlimited and confidential ethical and risk management advice from licensed psychologists with extensive clinical, ethical and legal experience. In 2018 alone we saved 6,827 policyholders thousands of dollars in out-of-pocket expenses. No other company offers the caliber of support we provide to our clients.

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.

2018 Trustees:

Douglas C. Haldeman, Ph.D.
Gerald P. Koocher, Ph.D.
John P. Petrila, J.D.
Stephen E. Young
Jana N. Martin, Ph.D.
Deborah Ropelewski, CPCU, AU, ARe
Josephine D. Johnson, Ph.D.
Nancy Molitor, Ph.D.
Page B. Walley, Ph.D.

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 and Office Overhead will be underwritten by Lincoln Financial. Auto and Home will continue to be underwritten by Liberty Mutual; Long Term Care is brokered through Burling Insurance Group; and Retirement Planning Services are provided by UBS Financial.

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.

2018 Focal Points

  • 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.

  • Connect with The Trust and TRMS on social media
    The Trust and Trust Risk Management Services (TRMS) gained more friends, followers, and professional connections and disseminates timely content on social media.
    Follow The Trust by visiting its pages at Facebook, Twitter and LinkedIn. Also follow TRMS by visiting its pages at Facebook, Twitter and LinkedIn.

  • Continued relationship with National Register
    We held two online webcasts this year with National Register that were free to all Trust policyholders and National Register members. Participants also received 1 CE credit hour. The first joint effort, “Complying with Subpoenas and Court Orders While Minimizing Your Risk,” was presented by our risk management consultant, Dr. Amanda Zelechoski on Wednesday, June 6th and had 3,343 registrants. Our second joint presentation, “Record Keeping and Risk Management,” was held Wednesday, November 7th and presented by Dr. Eric Harris to a group of 3,755 registrants.

  • 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 47 State Psychological Associations. The Trust provided financial and material support in a variety of ways, including support for meetings and events, membership recruitment and retention, and ethics continuing education. In an effort to provide SPTAs with further exposure, this year we created dedicated web pages for each association that contains their logo with a link to their website, provides details on their history, displays their Executive Director’s name along with contact information, and gives a direct link to their state licensing board.

  • Investing in our policyholders’ success
    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
      The Trust toured the U.S with continuing education workshops conducted by licensed psychologists with extensive legal, ethical, and risk management expertise. The workshops offered CE credits for all psychologists, and insurance premium discounts for those insured through The Trust Sponsored Professional Liability Insurance Program. The Trust debuted two new workshops in 2018: Sequence IX: Ethics & Risk Management in Complex Clinical Conundrums and Suicidality: Clinical, Ethical and Risk Management Issues.

    • Advocate 800 Program
      The Trust continued in 2018 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 of 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 mailed a longevity reward to individuals and groups insured for more than five continuous years through The Trust Sponsored Professional Liability Program.

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

  • The Trust Sponsored Professional Liability
    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 (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. We offer a 5% discount when you bundle your professional liability and business office insurance policies. 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, flood, and ID theft, at special savings through Liberty Mutual. 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 Planning
    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 (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.

  • Pet Health
    Unexpected medical emergencies for your pets can happen at any time. This inevitably leads to difficult decision making in an already stressful environment. Do you short-change your pet’s care based on cost, or accept the reality of a large vet bill? Now you don't have to choose. Learn more here.

  • Cyber Enterprise
    Cyber threats can occur at any time, and attacks focused on healthcare data are increasing in both levels of severity and frequency. Make sure you’re protected in the event of a cyber breach. Learn more here.

We continue to value you as a policyholder, and we thank you for reading this report. 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 six 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.