2019 Annual Report

Dear Trust Policyholders and Colleagues:

I am pleased to post this 2019 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:

  • National Practice Conference – On November 8-9, 2019, The Trust Practice and Risk Management Association (TrustPARMA) and the National Register of Health Service Psychologists held the inaugural National Practice Conference at the Wharf InterContinental hotel in Washington, DC. The 1.5-day practice-oriented conference brought over 200 attendees from across the country to hear from some of the top clinical and risk management experts in the field. We were thrilled with the attendance, the speakers, and the wonderful feedback we received—many commented that it was the best conference they had attended in 20 years! The 2nd annual event will be held on November 5-7, 2020, at the same location.

  • Free CE Sessions & Food Events at The Trust Exhibit – The Trust held this first-ever event on August 8-10, 2019, at the Hilton Chicago. The 2.5-day agenda covered risk management and ethical issues and other timely hot topics. All the sessions were developed and presented by The Trust’s Risk Management Consultants. It was wonderful to see The Trust Community in action: educating our policyholders, helping them renew their policies, and answering questions; providing essential and important guidance; signing up new policyholders; and providing an excellent forum for support and networking.

  • The Trust Advisor Newsletter – There’s a fresh new resource for psychologists! The Trust rolled out its quarterly newsletter as part of our continued support and dedication to our policyholders and to the profession of psychology. Each issue explores developments within the industry, highlights various upcoming events, provides details on matters pertinent to students and early career psychologists, delivers information about our valuable partners, and much more.

  • Trust Risk Management Workshops through State Associations – The Trust continues its commitment to our valued State, Provincial and Territorial Psychological Associations (SPTAs). This partnership provides support for SPTAs, including the 47 that endorse The Trust. In conjunction with the state psychological associations, The Trust produced 34 workshops, bringing over 2,677 attendees.

  • The Trust SPTA Advisory Council – The Trust is always interested in learning different ways we can help to support state associations, so we created The Trust SPTA Advisory Council in late 2018. The focus of The Trust SPTA Advisory Council is to brainstorm on ways to enhance the mutually beneficial relationship between The Trust and SPTAs organizationally and financially. Led by Dr. Jana Martin, CEO of The Trust, the current Advisory Council consists of the Executive Directors from the following SPTAs: Hawaii, Mississippi, Nebraska, South Dakota and Ohio. These Advisory Council members represent small, medium and large associations from various regions along with the right mix of experience. We’ve had several conference calls in 2019 and have been brainstorming on various projects which might benefit all SPTAs. We will be launching a pilot project on leadership development in Q1 and Q2 of 2020—be sure to look for more information on how you will benefit from the work of The Trust SPTA Advisory Council.

  • The Trust SECP Committee – The Trust has long supported the needs and interests of psychology students and early career psychologists, and in keeping with that support created The Trust Student and Early Career Psychologist (SECP) Committee in 2017. To date, the Committee has developed and completed a new brochure, “Starting a Private Practice: An Early Career Psychologist’s Guide.” It is one of our most popularly requested handouts at conferences. The Trust SECP Committee has also developed a series of videos on topics, including how and why to access our Trust Advocate 800 Program’s risk management consultation service, and answers to basic questions about coverage in an interview with our CEO, Dr. Jana Martin. This very productive and energetic Committee is designing other products to help students and early career psychologists navigate licensure exams and prepare for their professional lives. We are excited about the valuable input, unique perspectives, and innovative ideas the Committee members provide, and we look forward to the helpful products and services they will continue to develop. Click here to learn more and to download a complimentary copy of the “Starting a Private Practice: An Early Career Psychologist’s Guide.”

These are just the highlights! Please read the entire report for more detailed information about our many accomplishments in 2019. Thank you for being a part of The Trust Community. We continue to ensure that our motto, “For Psychologists, By Psychologists,” resonates in everything we do. And remember, we’re more than just insurance!

Best Regards,

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 and continued to show growth in 2019. Our 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 Planning Services. Its risk management programs include the Advocate 800 Program’s 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.

2019 Trustees:

Douglas C. Haldeman, Ph.D.
Nancy S. Molitor, Ph.D.
Josephine D. Johnson, Ph.D.
Jana N. Martin, Ph.D.
Fred Millán, Ph.D., ABPP, NCC
Gilbert H. Newman, Ph.D.
John P. Petrila, J.D.
Deborah K. Ropelewski, CPCU, AU, ARe
Lori C. Thomas, J.D., Ph.D.
Page B. Walley, Ph.D.
Stephen E. Young

The Trust works with highly rated insurance companies to underwrite its insurance programs. The Trust Sponsored Professional Liability, Business Office and Cyber Enterprise 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 Group Term Life, Income Protection (Disability) and Office Overhead is underwritten by Lincoln Financial Group; Auto, Home and Renters Insurance is underwritten by Liberty Mutual; Long Term Care Insurance is brokered through Burling Insurance Group; and Retirement Planning 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.

2019 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 in 2019 and disseminates timely content on social media.
    Follow The Trust by visiting its pages on Facebook, Twitter, LinkedIn and YouTube. Also, follow TRMS by visiting its pages on Facebook, Twitter and LinkedIn.

  • Continued relationship with the National Register.
    The Trust continued its strong partnership with the National Register of Health Service Psychologists to provide outstanding educational opportunities for practicing psychologists. The collaboration has led to the development of several very popular and successful joint webinars including, Treating the Child of Divorced or Separated Parents - Ethical, Legal, and Risk Management Considerations and Role Conflicts and Emotional Support Animal Certifications. We also partnered on other projects aimed at enhancing risk management and clinical skills, like the inaugural National Practice Conference (NPC). The conference was so successful that the second annual event is already in the planning stages for next year. NPC 2020 will be held again at the Intercontinental Hotel in Washington, DC, on November 5-7, 2020.

  • 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 enjoys partnerships and provides support for SPTAs, including endorsement 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. The Trust will continue its partnership with the National Register of Health Service Psychologists, Triad Behavioral Health, The American Academy of Pediatric Neuropsychology, and the National Council of Schools & Programs of Professional Psychology (NCSPP). Click here to learn more about our partners.

  • Sharing the program’s success with policyholders.
    The Trust has a fiduciary and 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 several ways. These include:

  • New Ethics and Risk Management Seminars.
    The Trust toured the U.S. throughout the year with 34 continuing education workshops conducted by The Trust Risk Management Consultants (known as The Trust Advocates) who are 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’s new workshop in 2019 was Sequence X: Perplexing Problems in Psychological Practice: Decision Science, Ethics & Risk Management, which debuted on August 7, 2019, at the Hilton Chicago. Please click here for details and locations of this year’s upcoming workshops.

  • Advocate 800 Program
    The Trust continued in 2019 to make available confidential phone consultations with The Trust Advocates. 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 risk management 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 mailed a longevity reward to individuals and groups insured for more than five continuous years through The Trust Sponsored Professional Liability Program.

  • The Trust Advisor Newsletter
    The Trust Advisor newsletter is a new value-added resource for psychologists and allied health professionals. Each issue will explore developments within the industry, highlight various upcoming events, provide details on matters pertinent to students and early career psychologists, deliver information about our valuable partners, and much more. This quarterly newsletter will be available online and will provide policyholders and persons in the industry with developments of The Trust, TRMS and TrustPARMA. Click here to view the latest issue.

Many of our fine programs and projects will expand and continue in the coming years. Here’s a preview of some new events coming in 2020:

  • The National Practice Conference
    The 2nd Annual National Practice Conference will return to the InterContinental in Washington, DC, on November 5-7, 2020. With a new and expanded schedule, the event will now feature two pre-conference tracks to choose from aimed at providing psychologists with the most up-to-date risk management and clinical information.

  • Free CE Sessions & Food Events
    The Trust’s Risk Management Consultants will return to bring a newly developed agenda covering risk management, ethical issues and other timely hot topics. The event will give attendees the opportunity to earn free CE, network with colleagues, enjoy a variety of delicious food, and score some fun swag. Our licensed insurance representatives will be available to assist current and new policyholders. The event will be held on August 6-8, 2020, at the Grand Hyatt in Washington, DC.

The Trust will continue its mission to anticipate and meet the unique needs of psychologists, allied and other health professionals, and health care groups and organizations by identifying, developing, and offering insurance, financial security products, and education and training for risk management and the business of practice. Click on one of our insurance and financial security programs below to learn more:

Professional Liability
Student Liability
Research & Academician Liability
Business Office
Income Protection (Disability)
Group Term Life
Office Overhead
Auto, Home and Renters
Pet Health
Cyber Enterprise
Allied Healthcare
Long Term Care
Retirement Planning

Along with our insurance and financial security programs, The Trust through TrustPARMA offers live workshops and on-demand webinars that qualify for continuing education (CE) credits and possible insurance discounts with topics covering ethics and risk management, private practice and more.

Another great resource is The Trust’s Podcasts for Practitioners, where psychologists can expand their knowledge on a wide range of topics from risk management and practice-related concerns to insurance and the importance of having coverage. The podcasts give psychologists the freedom to learn at any time of the day via their phone, tablet, car Bluetooth or computer. Visit our website to learn more about our Live Workshops, On-Demand Webinars, and Podcasts.

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. Thank you for being a part of The Trust Community.

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