From Residency to Retirement: How PRMS Supports Psychiatry Residents

From Residency to Retirement: How PRMS Supports Psychiatry Residents

Choosing a malpractice insurance policy is one of the first – and most important – decisions you will face in your career. And as a resident, you may have a lot of questions: How much is malpractice insurance? When does a psychiatrist need malpractice insurance? What is a claims made policy versus occurrence insurance policy?

Luckily, the experienced team at PRMS is equipped to answer all your medical malpractice insurance questions and guide you to make the best decisions for your specific needs – all at the best value to you – as you begin your career in psychiatry. We pride ourselves on being with our clients every step of the way, from residency to retirement. Secure your future with our psychiatry-specific insurance program, and whether or not you’re a PRMS client, discover some of the benefits and resources PRMS offers to all residents and fellows below.

  • Moonlighting Coverage: With more than 37 years of psychiatry-specific experience and premium discounts up to 80% for moonlighting residents and fellows, PRMS offers unrivaled protection for your psychiatric career via a tailored policy, extensive educational risk management resources, and a skilled litigation team - should you need it. Reach out for a quote and learn more by visiting
  • PRMS U: Our client-exclusive online learning destination contains a wide variety of educational resources that we also make available to residents in training complimentarily. Get an idea of some of the risk management resources available to PRMS clients and access online courses, articles, newsletters, alerts and more to help protect your patients and your practice. Click here to learn how residents and residency training directors can access PRMS U.
  • PREP: As a leader in proactive risk management education, PRMS is pleased to offer a unique and free educational program, PREP®, to groups of psychiatry residents. PREP, the PRMS Residents' Education Program, provides an overview of practice-related risk management issues -- including topics not often formally addressed during the course of residency training. The PREP course has been developed to meet the needs expressed by Residency Training Directors, as psychiatrists who will soon be making critical decisions about their own professional liability protection should be familiar with these concepts. Additionally, the material in this program supports ACGME competencies (System-Based Practice and Interpersonal and Communication Skills). Learn more about PREP by visiting
  • Psych-cess Webinars: Psych-cess is a free webinar offered to residents, fellows, and early career psychiatrists, led by experts in the field to set you up for success in your psychiatric career. View past recordings covering topics such as child and adolescent psychiatry, geriatric psychiatry, diversity in psychiatry, and risk management basics on the webinar webpage, where you can also sign up to be notified about future events:

Read more in these helpful blogs from the past few years that we suggest for residents: Residents: Do you know what you do not know? and Why Didn’t Anyone Teach This in Residency?


Click here to learn more about the superior psychiatry-specific insurance program and comprehensive services offered by PRMS.

Authored by PRMS.

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Professional Risk Management Services® © 2024

Actual terms, coverages, conditions and exclusions may vary by state and are subject to underwriting. Insurance coverage provided by
Fair American Insurance and Reinsurance Company (FAIRCO), New York, NY (NAIC 35157). FAIRCO is an authorized carrier in California, ID number 3715-7.
PRMS, The Psychiatrists' Program and the PRMS Owl are registered Trademarks of Transatlantic Holdings, Inc., a parent company of FAIRCO.