Veterinary risk management

Veterinary risk management is a structured process that identifies, assesses, and mitigates risks specific to veterinary practices. Veterinary insurance policies cover liabilities such as malpractice claims, property damage, and employee injuries in clinics like Banfield Pet Hospital or VCA Animal Hospitals.

Insurers calculate premiums using data on claim frequency and severity from sources including the American Veterinary Medical Association (AVMA). Common covered risks include surgical errors, medication mistakes, equipment thefts, and animal escapes.

Underwriters use loss history reports from providers like Vetinsure to set deductibles for coverage types such as professional liability or business interruption. Risk mitigation strategies involve staff training sessions documented by organizations like NAVC (North American Veterinary Community) and regular facility safety audits.

Exclusions often apply to pre-existing conditions in animals or intentional acts by veterinarians as specified in policy documents from carriers like Nationwide or The Hartford, from the report issued by Your Insurance Info. Claims processes require detailed incident documentation with supporting evidence such as medical records and witness statements submitted within insurer-specified timeframes (e.g. 30 days).