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NEW
MEXICO Professional Liability Insurance Rates
Rates valid
for New Mexico Only
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$
3,000,000
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AGGREGATE
LIMIT |
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$
1,000,000
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EACH
WRONGFUL ACT LIMIT |
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$
1,000,000
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EACH
OCCURRENCE LIMIT – PREMISES LIABILITY |
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$
25,000
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SEXUAL
MISCONDUCT AGGREGATE LIMIT |
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$
5,000
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REGULATORY
DEFENSE AMOUNT |
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To
determine the cost of insurance for individual practitioners,
please follow these 3 easy steps:
| CATEGORIES:
Be
sure to select the category that best represents
your estimated number of ANNUAL client
visits. See examples at right to assist you
in calculating your visits. |
Category
1
250 OR FEWER ANNUAL
CLIENT VISITS
(Average of 5 or fewer visits per week) |
Category
2
MORE THAN 250 BUT
LESS THAN 750 ANNUAL CLIENT VISITS
(Average of 6-14 visits per week) |
Category
3
750 OR MORE ANNUAL CLIENT
VISITS
(Average of 15 or more visits per week) |
|
Find
your category and then find the section that applies
to you.
Note: Section 3 is only for Psychologists.
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| Examples: |
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•
One client seen 3 times
per week = 3 visits
•
One
group session with 6 group
members = 6 visits
•
One
session with 2 family
members = 2 visits
•
One
client seen for 3 hours
in one day = 1 visit
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| IMPORTANT:
If you are a W2 salaried employee but only want coverage
for private practice work done outside of that employment,
please select the category that best represents your number
of ANNUAL private practice visits only. If you would like
coverage for the employment as well as any private practice,
be sure to select the category that best represents the
number of ANNUAL client visits for both. |
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SECTION
1
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SECTION
2 |
SECTION
3
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CATEGORY
|
MS,
MA, MSW, EdS, BA, BS, BSW, No degree*, Associates
degree |
Doctorate
(OTHER
THAN PSYCHOLOGIST)
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PSYCHOLOGISTS
ONLY
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|
MA, MS, EdS |
PhD, PsyD, EdD |
|
1
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$188.00
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$380.00 |
$250.00
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$475.00
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2
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$263.00
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$600.00 |
$350.00
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$750.00
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3
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$360.00
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$800.00 |
$450.00
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$900.00
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If
you have had a complaint or claim filed against
you, your cost may be higher.
For
premiums of $250.00 or more, you can pay 50% of
the total premium with the application. The balance
is due 30 days from the effective date of the
policy. We reserve the right to process
checks electronically by transmitting the amount
of the check, routing number, account number and
check serial number to your financial institution.
* Those with no degree must be licensed or certified. |
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ADDITIONAL
INSUREDS:
Additional Insureds (for example - Psychological Counseling,
Inc.) may be added to your policy when you have a contractual
obligation to include them as such. The cost for each
additional insured is:
$
100.00
|
EACH
IF YOU ARE PRACTICING UNDER A DOCTORATE DEGREE |
| $
50.00 |
EACH
IF YOU ARE PRACTICING UNDER NO DEGREE, ASSOCIATE,
BACHELOR, MASTERS OR EDUCATION SPECIALIST DEGREE
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INDEPENDENT
CONTRACTORS AND/OR SUPERVISEES:
If
you provide a 1099 tax form to any independent contractors
and/or if you supervise anyone whose services are in
the mental health field, then the charge below must
be paid for each one. The cost is:
| $
50.00 |
FOR EACH CONTRACTOR
AND/OR SUPERVISEE |
They
will not be insured under your policy but you will be
protected, subject to the terms and conditions in the
policy (if issued), for a covered event because of their
actions. They must carry their own professional liability.
PRIOR
ACTS COVERAGE:
To obtain this coverage, you must have a current "claims
made" policy in your name that has not expired.
The additional NON - REFUNDABLE PREMIUM (due in full)
is:
Up
to 1 year back 50% of the total premium selected above
1
to 2 years back 75% of the total premium selected above
2
to 3 years back 90% of the total premium selected above
3
to 4 years back 100% of the total premium selected above
4
to 5 years back 105% of the total premium selected above
This
information is for descriptive purposes only. The exact
coverage is subject to the terms, conditions and exclusions
of the policy issued.
Group Applicants must submit
an application to recieve a premium quotation. |
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All medical services,
including the furnishing or dispensing of drugs,
are specifically excluded from any policy that
is issued. Please refer to Exclusions, Item "C," on
page 2 of 7 in the specimen policy. If you
have prescription privileges, do not apply
as you will not be properly covered should
a policy be issued to you. |
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Rockport
Insurance Associates
P.O. Box 1809
Rockport, Texas 78381-1809
Phone: 361-790-9043
Fax: 361-790-9754
Toll Free: 1-800-423-5344
Info@rockportinsurance.com
Call
for personal service.
8:00 am to 4:30 pm CST
Monday to Friday. |
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