As more than 55,000 AVMA members already know, professional liability insurance through the AVMA Professional Liability Insurance Trust is a valuable member service. Now, on top of all the benefits PLIT participants already receive, there’s even more good news. PLIT recently announced that the annual professional liability premiums for the Professional Liability Insurance Program will decrease 5 percent for the 2010 policy year for all policy holders except those in California and New York, where the premiums will remain unchanged. The annual premiums for excess liability, veterinary license defense and professional extension coverage will remain the same for all participants.
The premium reduction is a result of fewer claims being filed, which reflects on the good medicine you’re practicing and the quality of your communication with your clients. PLIT members received the good news about the premium reduction in their renewal letters, which were mailed at the end of October. Just as a reminder, your PLIT professional liability premium payments are due by Jan. 1, 2010.