AVMA PLIT and AVMA LIFE — the American Veterinary Medical Association’s two insurance programs — will be restructured under an umbrella trust, the organization announced Jan. 5.
“We are adapting to match the changing needs of AVMA members and how they do business,” said Andrew Clark, DVM, MBA, who heads AVMA PLIT. “The umbrella trust is an example of how unifying the efforts of our veterinary family is a step in our evolution to the next level of heightened member focus.”
AVMA PLIT provides professional liability insurance and business insurance. Among the offerings from AVMA LIFE are disability, life and health insurance.
The restructuring will result in a seven-member board of trustees — two from the current AVMA PLIT board, two from the AVMA LIFE board and three new appointees. All will oversee the umbrella trust and serve on the individual program boards.
Current trustees left off the new board will serve on an advisory panel. “Their years of dedicated service to the AVMA family will provide critical perspective,” AVMA reported.
The eventual merger of the two programs is likely.
“The formation of the umbrella trust was a collaborative process and one which will continue to evolve toward full unification,” AVMA stated.
Janet Donlin, DVM, the 91,000-member organization’s CEO and executive vice president, said the insurance programs are financially health and “strongly positioned in today’s veterinary market.”
In other news, Linda Ellis, DVM, was named AVMA PLIT’s director of trust veterinarians, a new position.
“The trust veterinarians are critical to the success story of the PLIT insurance programs,” Dr. Clark said. “They support 65,000 AVMA members in the professional liability program, in addition to our business and personal insurance programs, which are growing dramatically.”
A PLIT trust veterinarian since 2005, Dr. Ellis will oversee and implement strategic plans and manage PLIT resources and scheduling.