[MUSIC PLAYING] Welcome. In this lesson, the discussion will be about insurance types and needs for counselors and business owners. Specifically, we'll cover the following-- insurance for counselors, insurance for counseling business, purchasing a policy.
A requirement necessary to practice counseling will be malpractice insurance. It's also called professional liability insurance. Now this insurance is meant to provide you with financial protection if you are sued. Malpractice insurance typically covers issues associated with how you practice as a counselor, including the following-- confidentiality, ethics, inappropriate relationships, abuse of power, harm to the client.
When applying to be credentialed with an insurance company, the insurance company will require specific amounts of professional liability insurance coverage. It's necessary to hold these requirement amounts if you wish to be paneled with the insurance company.
Business owners of sole proprietorships, LLCs, partnerships, nonprofits, and corporations will need to consider purchasing general liability insurance, as well. Now general liability insurance may cover the business and its employees if they are claims against the following-- libel, slander, false advertising, property damage caused by the business or its employees, medical cost if someone gets hurt on your property.
So it's important to consider paying for general liability, given its small cost, versus the cost of being sued. Additional insurance coverage does exist, such as coverage for teaching and supervision or coverage for HIPAA or high-tech breaches. It's important to consult with your insurance provider to determine which coverage is best for your type of business.
You may want to shop around for professional and general liability insurance policies, as prices can really vary. The ACA promotes HPSO for insurance. Here's where you'll find the website. AMHCA promotes a company called CPH for insurance, and here is their website.
Now both sites offer resources and education on malpractice and liability for counselors. Search the sites, and check out the resources to increase your knowledge on risk management, malpractice insurance, and general liability insurance. There are some great videos posted, such as How to Prepare for a Deposition, and articles such as "When Ethical Dilemmas Arise." Both of the organizations offer significant discounts, also, for counselors who are members of their professional organization.
So a different option for purchasing insurance may be the counselor's current insurer for their home or car, et cetera. Remember that insurance policies renew annually. And you should never let your insurance policy lapse. Let's say that your policy expired at the end of July, and a client filed a suit against you on August 1st.
Well, have you ever jumped from an airplane without a parachute? Well, here's your chance. Any sessions offered during a lapsed period make you vulnerable to the entire treatment process.
So here's what we covered in this lesson-- insurance for counselors, insurance for counseling businesses, purchasing a policy.
[MUSIC PLAYING]
Overview:
(00:00-00:22) Introduction
(00:23-01:15) Insurance for Counselors
(01:16-02:20) Insurance for Counseling Business
(02:21-03:53) Purchasing a Policy
(03:54-04:09) Summary