I am pleased to post this 2020 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 Mentor/Mentee Program – The Trust and Dr. Eddy Ameen, a new consultant to The Trust, debuted a free mentoring program that we started marketing at the end of 2020 and launched in January 2021 as part of The Trust's continued support of the SECP community. This short-term mentoring program consisted of three groups. Each group was capped at twelve graduate students and ECP mentees and covered topics like starting an independent therapy practice, plotting a career path and landing your next job, and deepening cultural humility and advancing equity. The Trust will share with policyholders the new products that were developed as a result of this program. Due to the overwhelming amount of interest from this program, The Trust plans to hold more with Dr. Ameen in the future.
- Virtual Webinar Series – The Trust continues to grow its library of webinars which are available free of charge to policyholders. This series was first developed in response to the COVID-19 pandemic to support clinicians. Due to the overwhelmingly positive feedback, the series has grown to be an excellent resource for psychologists covering various topics – from telehealth and risk management to societal issues and clinician self-care. As of the end of 2020, we held 11 Risk Management Roundtables, 9 Telehealth Community Chats, and a four-part series titled We Hold These Truths: Perspectives on Health Disparities, Racial Identities & Cultural Humility. These presentations were free to Trust policyholders and provided 1 hour of CE. All events were also recorded and made available on The Trust's website. These programs have been very successful, highly rated, and reach thousands of psychologists. To view them on-demand or to register for a future live webinar, please visit https://parma.trustinsurance.com/Workshops-Webinars/Virtual-Webinar-Series.
- Risk Management Roundtables – The Risk Management Roundtables consist of several Trust Risk Management Consultants discussing and advising about ethical and risk management issues. Participants are encouraged to raise their own questions and concerns for discussion.
- Telehealth Community Chats – Telehealth Community Chats are presented by Trust Telehealth Consultants, Dr. Margo Adams Larsen and Dr. Sara Smucker Barnwell. The Chats focus on the practical how to questions related to telehealth, and span themes such as clinical practice, ethical considerations, technical considerations, and risk management.
- We Hold These Truths – This series examines how societal issues, including racial injustice, movements for racial equity, health disparities, and adverse experiences due to systemic racism, have historically impacted communities of color. Our panel of experts offer perspectives on how the field of psychology has traditionally addressed these issues and discuss how the rise of the social justice movement has impacted psychology's current response to these issues.
- Workshops & Webinars – The Trust continues to partner with organizations and experts to cover topics that matter to psychologists. To view the library of workshops and webinars, please visit https://parma.trustinsurance.com/Workshops-Webinars.
- Providing Effective, Risk Managed Treatment for Potentially Suicidal Patients in Outpatient Private Practice – The Trust partnered with CAMS-care to offer this free webinar as a way for psychologists to build awareness about using evidence based, suicide-focused treatment for suicidal patients.
- Compassion and Equanimity as Skills for Surviving and Thriving when School and Career are an Uphill Climb – Presented by Dr. Lisa Cromer, this webinar focused on compassion as a specific form of mindfulness. Mindfulness is well-known to be effective as a stand-alone or adjunctive treatment for managing stress and anxiety.
- COVID-19 Resources for Practitioners – In response to the pandemic, and in an effort to support clinical psychologists during these challenging times, we created a page on The Trust's website dedicated to providing resources to clinicians. Updated frequently, these resources include downloadable practice sample informed consent forms, multiple helpful FAQs, a list of links to our partners' pages, and a compilation of relevant on-demand webinars. To view and access these resources, please visit https://parma.trustinsurance.com/Resource-Center/COVID-19-Resources.
- On-Demand Bundles – We launched two brand new bundles of Continuing Education at the end of August. Trust policyholders accessed this content for as little as $10 per CE. Each bundle provided six hours of CE, which enabled eligible policyholders to save 15% on their Trust Sponsored Professional Liability insurance premium for two consecutive renewal periods.
- Summer CE Bundle – This on-demand content was originally presented by our Risk Management Consultants in Chicago on August 8-10, 2019, and covers a wide array of informative topics that are critical to running a successful practice. To view more information and purchase this bundle, please visit: https://parma.trustinsurance.com/Workshops-Webinars/Summer-CE-Bundle.
- Telepsychology CE Bundle – This bundle contains three of The Trust's most popular telepsychology on-demand webinars packaged together at a special rate. Each course is presented by The Trust's Telehealth Consultants, Dr. Margo Adams Larsen and Dr. Sara Smucker Barnwell, and provides nuts and bolts guidance of clinical applications and techniques, as well as emergency management and risk assessment strategies, and more. To view more information and purchase this bundle, please visit: https://parma.trustinsurance.com/Workshops-Webinars/Telepsychology-CE-Bundle.
- The Trust Advisor Newsletter – The Trust continues to provide its newsletter as part of our continued support and dedication to our policyholders and 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. To download the latest copy, please visit https://parma.trustinsurance.com/Resource-Center/Newsletter.
- 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 48 that endorse The Trust. In conjunction with the state psychological associations, The Trust presented nearly 50 webinars through 2020; 23 of which were 6-hour continuing education workshops conducted by 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 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, Ohio and North Carolina. These Advisory Council members represent small, medium and large associations from various regions along with a mix of experience.
These are just the highlights! Please read the entire report for more detailed information about our many accomplishments in 2020. 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!
Jana N. Martin, Ph.D.
Chief Executive Officer
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 2020. 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.
Josephine D. Johnson, Ph.D.
Jana N. Martin, Ph.D.
Fred Millán, Ph.D., ABPP, NCC
Nancy S. Molitor, Ph.D.
Gilbert H. Newman, Ph.D.
Katherine C. Nordal, 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.
2020 Focal Points
- 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 popular and requested handouts at conferences. The Trust SECP Committee also has 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. To learn more and to download a complimentary copy of the "Starting a Private Practice: An Early Career Psychologist's Guide," please visit https://www.trustinsurance.com/About/SECP-Committee.
- Partnerships and Business Relationships – The Trust believes in the value of partnerships and business agreements which benefit policyholders, psychologists, and the profession at large. We have several such relationships with institutions and organizations representing psychologists, including the following:
- State, Provincial and Territorial Psychological Associations (SPTAs) – 48 SPTAs endorse The Trust as the preferred provider of insurance and risk management products. 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.
- The National Register of Health Service Psychologists – Our strong partnership with the National Register of Health Service Psychologists provides outstanding educational opportunities for practicing psychologists. The collaboration has led to the development of many popular and successful joint webinars. We also have partnered on other projects aimed at enhancing risk management and clinical skills, like the National Practice Conference (NPC) and the Telepsychology Training Credential.
- Other partnership and business relationships include Triad Behavioral Health, The American Academy of Pediatric Neuropsychology, and The National Council of Schools & Programs of Professional Psychology (NCSPP).
- Collaborations with key psychological organizations – An important new partnership in which The Trust is involved is a Consortium with the National Register, the Association of State and Provincial Psychology Boards (ASPPB), and the American Board of Professional Psychology (ABPP). Our goal is to provide a message of united support and improved access to valuable resources across organizations, especially during the COVID pandemic. The consortium meets by videoconference at least monthly, and we have presented two webinars through the National Register: After the Acute Phase of Coronavirus - What Comes Next (https://ce.nationalregister.org/videos/after-the-acute-phase-of-coronaviruswhat-comes-next-archived) and an Update on How COVID-19 is Impacting the Regulatory Community & What the Future Might Hold (https://ce.nationalregister.org/videos/update-on-how-covid-19-is-impacting-the-regulatory-community-what-the-future-might-hold-archived). Other resources are in development.
- 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:
- Advocate 800 Program – The Trust continues 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. Our program stands out from others by providing consultants who are psychologists, many of whom have law degrees or specialties in forensic practice.
- Longevity Rewards – Determined by the Trustees on an annual basis, The Trust has mailed a longevity reward to individuals and groups insured for more than five continuous years through The Trust Sponsored Professional Liability Program. However, in 2020, due to the impact of COVID-19 on policyholders, we waived the five-year requirement and distributed these reward payments in May, as opposed to waiting until December when they are normally sent.
We value our policyholders and are committed to 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.
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 2021:
- SPTA Executive Director Training – The Trust SPTA Advisory Council is working to develop helpful resources for SPTAs and will launch its first webinars in early 2021 that cover D & O insurance and marketing. These webinars will be open to Executive Directors, officers and their staff.
- Clinician Self-Care Webinar – In the first quarter of 2021, The Trust will team with Risk Management Advocate, Dr. Leisl Bryant, for a 2-part series titled, Turning Toward Ourselves and Each Other: The Pivotal Nature of Clinician Self-Care. This 6-hour long series looks at the clinician experience and focuses on the pivotal role of self-care in helping clients – and themselves – adapt and cope during these difficult times. Each part is free to Trust policyholders and provides 3 hours of CE.
- Telepsychology Training Credential – As we have seen psychologists thrust into the practice of telepsychology due to COVID-19, and as the ability to practice under PSYPACT has become a reality, The Trust and the National Register are developing a training program to equip practitioners with important ethical, risk management, legal/regulatory, technical and clinical information as they use a telepsychology platform. Training will include on-demand webinars each of which are CE eligible and available for viewing individually. Psychologists successfully completing all webinars in the training curriculum (approximately 15 hours) will be eligible for a credential attesting to their training in the safe and effective provision of clinical services through telepsychology. We will update the material as needed and add new training components each year. Our goal is to provide a firm foundation for the ethical and legal practice of telepsychology both intra- and interjurisdictionally, as well as new material to facilitate renewal of the E. Passport. We look forward to sharing more information about this program with ASPPB.
- The National Practice Conference – The 2nd Annual National Practice Conference will return to the InterContinental in Washington, DC, on November 4-6, 2021. 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.
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:
Research & Academician Liability
Income Protection (Disability)
Group Term Life
Auto, Home and Renters
Long Term Care
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 email@example.com.