The AVMA Professional Liability Insurance Trust was established by the Association in 1962 to provide professional liability malpractice insurance protection for AVMA members.
The purpose of the Trust is to provide professional liability insurance coverage designed specifically for veterinarians; to permit review of claims and offer expert advice to claims personnel by a board composed of veterinarians; to realize dividends when experience permits; to improve the general practice of veterinary medicine by calling attention to the most frequent complaints made against veterinarians; and to encourage loss-prevention methods through an extensive educational and informational program.
The Trust shall also oversee and administer the AVMA Worker's Compensation insurance program instituted in 1984. Business Package, Business Auto Insurance, and Umbrella Liability coverages were added in 1993 and Employment Practices Liability was added in 1996. Personal Lines coverages (automobile, homeowners, etc.)were added in 1999 to provide a complete range of casualty coverages for AVMA members.
Membership, Method of Appointment, and Representation
The trustees are appointed by the Board of Directors for terms of four years beginning at the close of the AVMA annual meeting. Trustees are eligible for appointment to three consecutive four-year terms. A partial term of two or more years is considered a full term.
The trustees consider changes in the insurance program as to benefits and types of coverage; they review the actions of the insurance company and broker in promoting the plans; they give close attention to the administration of the program as conducted by the administrator; they review complaints from members and request adjustments when justified; they determine distribution of dividends and are responsible for all matters related to the conduct of the AVMA Professional Liability Insurance Trust.
The trustees should have an interest in the subject of insurance and should be willing to devote substantial amounts of time on occasion to projects undertaken by the Trust. The trustees have input to the Board of Directors with regard to appointments to the Trust and may recommend the professional activity needed to balance representation of the Trust, with regard to species of animal, specialty, and needs of the Trust.
The chair of the Trust is elected annually by the trustees.
The trustees hold three meetings annually - one in the spring, one in the fall, and one at the site of the AVMA annual meeting in July. The spring and fall meetings are held in the Chicago area unless business dictates that the meeting be held at another location. The Trust may meet more frequently if necessary. Committees and subcommittees of the Trust may meet as needed and in such locations as is deemed necessary by the Trust chair.
All expenses are paid out of Trust funds. However, in June 1989, the Board of Directors authorized travel and lodging expenses for the Trust representative when invited to attend AVMA Insurance Liaison Committee meetings, unless the Trust representative is obligated to travel to the meeting site to attend other Trust business.
The trustees reports annually to the Board of Directors and to the House of Delegates. The Trust chair is invited to the AVMA Insurance Liaison Committee and may make periodic reports to that Committee.