Two cornerstones of the American Veterinary Medical Association (AVMA), AVMA LIFE and AVMA PLIT, announced they are unifying efforts under an umbrella trust.
“This is an important step as we continue to focus on providing ongoing value to our members,” said Michael Topper, DVM. “As AVMA President, my overarching desire has been to build on past progress for a stronger future for all veterinarians and those they serve. I have no doubt that members of AVMA, AVMA LIFE, and AVMA PLIT will experience enhanced services as a result of this new structure.”
The collaborative formation of the umbrella trust will continue to evolve toward full unification. Seven trustees will be appointed to the new umbrella trust; these same seven will serve as the trustees on the AVMA LIFE and AVMA PLIT boards. Of these seven, two will be current trustees from AVMA LIFE, two will be current trustees of AVMA PLIT, and three will be new appointees.
“This approach ensures synergy and sound strategic direction while maintaining excellent service delivery to members,” said Janet Donlin, DVM, CAE, AVMA executive vice president and CEO. “Our focus has been and will always be on providing excellent service and value that our members rely on and have come to expect.”
Trustees who currently serve on the AVMA LIFE and AVMA PLIT boards but do not serve on the umbrella trust will be involved on an advisory panel.
The trusts have served AVMA members for 60 years. AVMA LIFE offers “veterinarian-inspired” coverage for all stages of a veterinarian’s and their family members’ lives. AVMA PLIT ensures that veterinarians have an advocate in the management of their professional liability claims, as well as their business insurance needs.
“AVMA LIFE has been, and continues to be, concerned with all aspects of veterinarians’ wellbeing,” said Libby Wallace, CEO of AVMA LIFE. “We are distinctive in that we understand the unique aspects of a career in veterinary medicine. As such, our member advocate will continue to assist AVMA members with resolving complex medical claims and evaluate medical plans. And members can rest assured that their current AVMA LIFE plans will remain unchanged, but the ways we serve veterinarians will continue to evolve.”
Representatives from each group expressed confidence that the unified umbrella trust will ensure veterinarians’ needs are met now and in the future.
“‘Veterinarians serving veterinarians’ is more than a tagline,” said Andrew Clark, DVM, MBA, AVMA PLIT CEO. “We have always been, and always will be, absolutely member focused. We are adapting to match the changing needs of AVMA members and how they do business. 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.”
The umbrella trust will be exploring valuable products and services, including the bundling of products to provide a suite of services.
“AVMA, AVMA LIFE, and AVMA PLIT each enter 2018 financially healthy and strongly positioned in today’s veterinary market,” said Dr. Donlin. “They possess unique strengths and offer singular services for the benefit of all AVMA members. And, of course, we will continue to update our members as the trusts evolve toward full unification.”