UK ICMIF member VDS announced that GBP 600,000 in return of premium will be shared between eligible members who apply to renew their VDS Practice policy for 2023 by the end of December 2022 and this year will once again be given as a discount against the 2023 renewal premium.

Reflecting VDS’s mutual model, a mutual bonus discount allows its members to share in any surplus funds, after supporting all current member service requirements and investment to ensure the company continues to do so for the long term. The return of premium is a mutual bonus granted to policyholders which in principle is dependent on operating and investment performance, however, it is ultimately at the Board’s discretion.

VDS – or The Veterinary Defence Society – is a mutual insurance company, run by experienced veterinary surgeons on behalf of the veterinary profession. It exists for the defence, support and development of the veterinary profession and its vision is to be the most trusted partner of veterinary professionals, practices and businesses. VDS provides professional indemnity insurance exclusive to the veterinary profession, insuring most of the practicing profession against the effects of claims of negligence. It also provides support and representation for vets and nurses throughout RCVS/VCI investigations, with criminal and disciplinary cover included in the policy for every member.

VDS is purpose-led, and its mutuality is well aligned to the societal trends toward more conscious consumer choice and higher ethical values. Its purpose is to protect veterinary professionals, practices and businesses, enabling them to focus on animal health and welfare. VDS was recognised in 2022 for its ESG journey and environmental performance, achieving accreditation with Investors in the Environment (iiE).