Our Psychiatry Program Facts

American Professional Agency, Inc.
vs.
PRMS

American Professional Agency, Inc. is an independently owned firm which fights for the rights of its clients and has done so since 1949!

PRMS is owned by the insurance companies that issue its policies and that is why they handle claims.  How can they be an advocate for you against the insurer if there is a problem?lineAmerican Professional Agency, Inc. has been underwriting medical professional liability since 1949 and began specializing in the mental health field in 1969.  We have been insuring Psychiatrists for over 40 years without interruption.  Due to our experience in the medical and mental health disciplines we are the most knowledgeable underwriters of the risks psychiatrist’s face.

PRMS is a “one trick pony” focusing solely on psychiatrists and neurologists as policyholders.lineAmerican Professional Agency, Inc. is endorsed by many national associations and proudly holds the endorsements of the American Psychiatric Association and the American Academy of Child and Adolescent Psychiatry, The two largest national psychiatric associations in the country!

PRMS holds neither of these.  They briefly held the endorsement of the American Academy of Neurology “AAN” only to abruptly cancel the program forcing the AAN to apologize to its members on their home page. (click here to see apology).  This certainly is not acceptable conduct for an MGA in our opinion.lineAmerican Professional Agency, Inc. has a 24 hour/7 day a week hotline and handles thousands of calls during regular working hours during the year.  All calls are handled by attorneys employed by our insurer.

PRMS only offers a “helpline” during working hours and uses an automated phone system.  American Professional Agency puts you in touch with an underwriter or claims professional directly upon calling during working hours and during emergencies the 24/7 hotline is available when we are closed.

Remember, we are an independent program administrator who advocates for our clients not a company owned MGA, through our insurer we provide free risk management seminars around the country which qualify for free CME/CE.lineTransatlantic Holdings, Inc. which reinsures the policies PRMS issues through Fair American Insurance and Reinsurance Company “FAIRCO” also reinsured Legion Insurance Company which went bankrupt and left thousands of psychiatrists scrambling to replace coverage and claims handling was delayed extensively scaring policyholders immensely.

Our partner, Allied World Insurance Company is one of the largest healthcare insurers in the country and is rated “A” excellent by A.M. Best as are all its subsidiaries. Based on our underwriting experience, client feedback and understanding of the changing healthcare environment we have already filed a revised policy form incorporating significant enhancements which will be released imminently.   We are waiting for a few state insurance department approvals prior to launch.  Look for our announcement and unveiling of this “state of the art” policy which has no rate increase associated with the coverage expansion!

Stay with us, “We’ve got you Covered!”   If you’re not with us, renewal time would be a good time to join the best psychiatrists’ liability program in the country!We've Got you covered