British pet insurance payouts reach record £785 million level

Pet insurance payouts - GBP

Policyholders have shattered previous records in the amount they received from their claims in 2018. Pet insurance payouts in the United Kingdom struck record levels in 2018 when they broke the £785 million mark. The figure rose to this level despite the fact that the number of claims filed by policyholders actually fell, said the Association of British Insurers (A.B.I.). The industry trade body pointed to a rising cost of complex veterinary care to explain the payment size. The A.B.I. underscored the increasing cost associated with sophisticated medical care to…

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National Puppy Day reminds dog owners of the importance of pet insurance

National Puppy Day - Cute Puppy

Saturday was an ultra-cute opportunity to look at the difference these animals make in our lives. Saturday was National Puppy Day and across the country, dog owners and dog lovers took the opportunity to appreciate how important these animals are to us and the difference we can make to them, too. Increasingly dogs are seen as furry family members as opposed to being animal possessions. The last couple of decades have marked a strong difference in the way we think of our pets. They are beloved companions, but what they…

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Pet health tops human wellness, say half of dog owners

pet health - dog with girl

Owners care more about the wellbeing of their companion animals than they do about their own. Pet health has become an astoundingly important issue in the lives of dog owners. In fact, a recent study showed that many dog owners care more about their animal’s wellness than their own. Half of dog owners specifically placed their canine’s health at a higher priority than their own health. The study findings showed that over half of dog owners placed pet health above their own personal health. Moreover, 62 percent of these pet…

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Dog insurance premiums are more affordable in some cities than others

Dog insurance premiums - Dog - cute dog -sad dog

These locations are providing agents, brokers and animal owners a substantial opportunity. A recent study has revealed the parts of the country where dog insurance premiums are the lowest. There, pet owners can purchase coverage for their furry family members in an affordable way. Pet insurance can come with a hefty cost, depending on where the policyholder resides. When a beloved pet is injured or falls ill, vet bills can be in the hundreds or thousands of dollars. This can require animal owners to have to choose between their financial…

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Wells Fargo pet insurance refunds on their way to many policyholders

Wells Fargo Pet Insurance - dog - Bulldog

A new report shows the scandal-plagued bank is reviewing a whole new batch of possible add-on problems. Wells Fargo pet insurance is among the latest add-ons linked with the bank’s rash of scandals. Thousands of the bank’s customers have been paying for insurance coverage they didn’t need or were overpaying for the coverage they did require. The bank is still coping with having mis-sold auto insurance to more than half a million drivers. More recently, the San Francisco-based lender has been looking at financial and insurance add-ons. What they have…

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Japanese pet insurance market takes off due to high vet costs

Japanese Pet Insurance - Man with Cat in Japan

Veterinary bills are on the rise in Japan, sending dog and cat owners to buy policies to help cover expenses. Considerable advances in veterinary care have helped dogs and cats to live longer, boosting the Japanese pet insurance market well beyond where it was only a handful of years ago. Longer lives and improved veterinary care has sent the price of pet health care skyward. Since veterinary care now comes with a higher expense, Japanese pet insurance policies have taken off. The reason is that dog and cat owners are…

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Pet insurance popularity takes off, covers over 2 million in North America

Pet Insurance Popularity - Dog in Cone

The industry has now reached the $1 billion point, according to a new NAPHIA report. As pet insurance popularity grows as it never has before, it has now become a $1 billion industry, says a North American Pet Insurance Association (NAPHIA) report. The report states that the average year over year growth rate has been nearly 17 percent, says the 2018 NAPHIA State of the Industry Report (SOI). This year also represented the first time the industry surpassed the $1 billion threshold. Pet insurance popularity drove the industry’s gross written…

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