PRMS CELEBRATES
30 YEARS OF SERVICE

In 1986, a gallon of gas was 89 cents, the average cost of a new house was $89,430, and the country was in the midst of an insurance crisis making malpractice insurance difficult to find. Facing a lack of coverage for its members, in 1984 the American Psychiatric Association established its own insurance program and in 1986, founded Professional Risk Management Services (PRMS) to manage that program. Although since that time, there have been changes in ownership, PRMS has never changed its focus from being of service to psychiatrists.

We have managed over 200,000 psychiatric polices through the years and it has been a privilege to have been of service to psychiatrists. Our focus on expertise, collaboration, and personalized service has made us a true partner to the profession. We also take pride in being a company that cares about community – locally and nationally – and have participated in many initiatives focused on mental health awareness.

We look forward to 30 more years!

PRMS CELEBRATES 30 YEARS OF SERVICE

PRMS is a member of the Alleghany Corporation (NYSE: ‘Y’) family of companies. Alleghany Corporation is a Fortune 500 U.S. - domiciled company. The Alleghany companies include both The Psychiatrists’ Program’s insurance carrier, Fair American Insurance and Reinsurance Company (FAIRCO), New York, NY (NAIC 35157) and the Program’s principal reinsurer, Transatlantic Reinsurance Company (TransRe).  The previous service team from PRMS that managed the PRMS brand, program and website, now manage the PRMS brand, program and website on behalf of FAIRCO as of October 1, 2019.

There When You Need Us: How the PRMS Claims Team Supports - Our Clients through a Lawsuit

 

The PRMS Claims Team defends you when you need it – should you ever need it. We’re proud of our hands-on, personalized service and our track record managing more than 29,000 psychiatric specific claims, more than any other company in the United

Telepsychiatry and COVID-19: What We Do and Do Not Know

In these uncertain times, the issues around telepsychiatry are more confusing than ever. To provide some answers to these uncertainties, we created a Telepsychiatry On-Demand Tutorial and are sharing associated resources, which you can access via

Minority Mental Health Awareness Month and the Boris L. Henson Foundation

This July marks Minority Mental Health Month, and now more than ever, knowing that minority communities are disproportionately affected by the COVID-19 pandemic, we’re using our platform to spread awareness, share educational tools, and show

FEATURED NEWS

Telepsychiatry and COVID-19: What We Do and Do Not Know

In these uncertain times, the issues around telepsychiatry are more confusing than ever. To provide some answers to these uncertainties, we created a Telepsychiatry On-Demand Tutorial and are sharing associated resources, which you can access via

Back to the Office: What Happens Next?

Contemplating a return to the office? As we begin to reemerge after enforced state-wide lockdowns and closures as a result of the COVID-19 pandemic, it is important for psychiatrists to be prepared as practices open back up and federal and state

PTSD Awareness Month and "Refer a Colleague" Double Donations

In an effort to continue our support of organizations helping communities affected by the unprecedented results of the COVID-19 pandemic, and in recognition of Post-Traumatic Stress Disorder (PTSD) Awareness Month, PRMS is pleased to announce our