Pets Best Insurance and the AVMA Group Health & Life Insurance Trust on Friday announced an exclusive relationship with a goal of educating veterinarians and consumers about pet insurance. As part of the new exclusive arrangement, Aetna's general insurance subsidiary, AICC, will be the new underwriter for the Pets Best Insurance plan.

"We know today that the veterinary profession must be a leading component of providing information and education to our clients about pet insurance," said Dr. Gary R. Holfinger, chairman of the AVMA GHLIT Board of Trustees. "Having a consistent utilization of pet insurance in the United States will increase the overall health of pets by providing an additional resource to deliver needed care. Working exclusively with Pets Best Insurance and Aetna, we feel certain to deliver a trusted pet insurance product for pet owners and our members."

Dr. Jack Stephens, president and founder of Pets Best Insurance, said third party insurance benefits pet owners and the veterinary profession by providing funding for additional quality veterinary care. "This partnership will be the milestone that makes pet insurance a priority for the majority of pet owners in the United States," Dr. Stephens said. "Our long-term strategy will benefit pets, pet owners, and the veterinary profession."

Pets Best Insurance is currently underwritten by North Pointe Insurance of Michigan. North Pointe Insurance will work to transition current and future policy holders to AICC.

"We are pleased to join with Pets Best and the AVMA GHLIT to offer access to trusted, affordable insurance for pet owners," said Aetna's Dan Fishbein. "More than 60 percent of American households have a pet and spend approximately $10 billion a year in veterinary expenses. Insurance provides valuable financial protection, and we know that more than half of consumers and our own members surveyed find it appealing for us to offer pet insurance."