CPH Malpractice Insurance: What You Need to Know

As a mental health professional, it’s essential to protect yourself from liability. One way to do this is by obtaining malpractice insurance. CPH & Associates is a popular provider of this type of coverage. In this article, we’ll explore the ins and outs of CPH malpractice insurance and why it’s crucial for your practice.

What is CPH Malpractice Insurance?

CPH malpractice insurance is a type of liability insurance that is specifically designed for mental health professionals. It provides coverage for claims arising from alleged professional negligence, failure to perform professional duties, and other related claims.

This type of insurance is essential for mental health professionals because it protects them from financial loss due to malpractice claims. Without this coverage, you could be held personally liable for any damages awarded to your clients.

What does CPH Malpractice Insurance Cover?

CPH malpractice insurance provides coverage for a wide range of claims, including:

In addition to these types of claims, CPH malpractice insurance also covers defense costs and legal fees. This means that if you are sued, CPH will provide an attorney to defend you and will pay for all associated legal fees.

Who Needs CPH Malpractice Insurance?

CPH malpractice insurance is necessary for any mental health professional who provides services to clients. This includes therapists, counselors, psychologists, and social workers. Even if you are an intern or a student, it’s important to have this type of coverage as you are still liable for any damages that may occur.

It’s also important to note that some states require mental health professionals to carry malpractice insurance. Check with your state licensing board to see if this applies to you.

How Much Does CPH Malpractice Insurance Cost?

The cost of CPH malpractice insurance varies depending on a few factors, such as your specialty, location, and coverage needs. However, most mental health professionals can expect to pay between $300 and $600 per year for this type of coverage.

This may seem like a significant expense, but when you consider the potential financial losses that could occur without insurance, it’s a small price to pay for peace of mind.

How to Obtain CPH Malpractice Insurance

The process of obtaining CPH malpractice insurance is straightforward. You can visit their website and complete an application online or by phone. The application process typically takes less than 10 minutes, and coverage can begin immediately upon approval.

When completing the application, you will be asked to provide information about your practice, such as your specialty, location, and number of clients. You will also be asked to select your coverage limits and any additional coverage options you may need.

FAQ

What is the difference between occurrence and claims-made coverage?

Occurrence coverage provides coverage for claims that occur during the policy period, regardless of when the claim is filed. Claims-made coverage, on the other hand, only provides coverage for claims that are filed during the policy period.

Do I need to purchase tail coverage when switching from claims-made to occurrence coverage?

When switching from claims-made to occurrence coverage, it’s important to purchase tail coverage. This type of coverage provides coverage for claims that occurred while you had claims-made coverage but were not filed until after you switched to occurrence coverage.

What if I have multiple locations?

CPH malpractice insurance provides coverage for mental health professionals who have multiple locations. However, you will need to purchase separate policies for each location.

What if I need to increase my coverage limits?

If you need to increase your coverage limits, you can do so at any time by contacting CPH. They will work with you to determine your new coverage needs and provide you with a new quote.

Does CPH malpractice insurance cover me if I practice outside of the United States?

CPH malpractice insurance does not provide coverage for mental health professionals who practice outside of the United States. If you plan to provide services outside of the U.S., you will need to obtain separate coverage for that location.

Conclusion

CPH malpractice insurance is an essential type of coverage for mental health professionals. It provides protection against liability claims that could result in significant financial losses. By obtaining this type of coverage, you can have peace of mind knowing that you are protected in the event of a malpractice claim.