A recent APA email informing their members that American Professional Agency (AmPA) is now APA’s preferred insurance provider created a lot of confusion and took many APA members and members at all state psychological associations by surprise. Due to the timing of the email, the announcement seemed to be sudden, but a follow up email sent by APA CEO, Dr. Arthur Evans notes that APA and The Trust had begun negotiating their 2018 agreement in the spring of 2017.
Dr. Evans’ follow-up letter informed APA members that after several rounds of negotiations with The Trust without an agreement, a Request for Proposal (RFP) was distributed to other insurance groups that included mandatory proposal elements. The results of the RFP were provided to The Trust with a last right of refusal and ask to revise their proposal. The Trust decided to decline to revised and indicated there was no need to continue negotiations. Within their conversations, APA CEO Dr. Evans and The Trust CEO Dr. Jana Martin also discussed how to end the APA/Trust relationship in an amicable way that did not disparage each other. The letter went on to say the decision not to inform APA members of the change until The Trust’s contract ended was to ensure the insurance company did not experience any harm while their contract was in effect. And, in retrospect that while it was important to keep APA’s commitment to The Trust, more attention should have been paid to the importance of providing members with information in a timely way.
WSPA and The Trust Endorsement Agreement
The change in APA’s preferred insurance provider effects any sponsorship relations between APA and The Trust going forward, but it does not affect any agreements with state psychological associations.
WSPA’s endorsement agreement with The Trust has been in place for over 15 years and was renewed in 2017 for an additional three years. The agreement provides financial funding for our CE events and travel and lodging for Trust presenters we request. In person Trust workshops sponsored by WSPA also comes with the additional benefit of Trust policy holders receiving a 15% policy renewal discount. The Trust also provides revenue sharing from select Trust webinars to state associations with an endorsement agreement.
The Trust and American Professional Agency have long been liability insurance options for psychologists. There is no obligation for WSPA members to buy Trust insurance policies because of our agreement just as there is no obligation for APA members to buy liability insurance from American Professional Agency.
With both insurance companies having different agreements with APA and WSPA we encourage our members to do their own research in choosing a liability insurance provider for their practice.