The North American pet insurance industry is finally taking off

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Trupanion recently released a report that showed that it has been experiencing considerable growth in revenues. Although pet insurance is carried by a small minority of dog and cat owners, the current trend has shown that the number of people who have coverage for their beloved animals is starting to grow in a very meaningful way. The market is on the rise and insurance companies are looking to take advantage of this revenue stream. In the example of Trupanion, a pet insurance company from Seattle, the 2015 first quarter earnings…

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American pet insurance industry experiences sales growth

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A new update to the report from IBISWorld has shown that more animal owners are buying policies. IBISWorld has updated the data in its report on the pet insurance industry and has pointed out that as a result of a combination of the increase in the costs associated with veterinary services, and the rising awareness among consumers with regards to coverage options, sales of these policies have been measurably growing. Insurers offering these types of policies have been experiencing rising consumer awareness and acceptance. The report showed that over the…

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Pet insurance is taking off in the United States

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At the same time that people are buying their own health plans, they are also looking into coverage for their animals. Although the health care reform has been in the headlines over the last little while, there has been a broader trend that has been affecting members of the family who don’t happen to be human, as pet insurance has been expanding across the United States. Pet health insurance is growing among individuals as well as among employers who want to attract talent with more benefits. There are a number…

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Pet insurance bill in California could provide industry with regulation

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A new bill in front of the legislature in the state would help to tell customers exactly what coverage they have. Should a new bill that is currently before the California legislature pass, it will mean that pet insurance companies will be required to provide greater disclosure to their customers regarding what precisely will be covered by the policies that they have sold. This type of insurance policy is becoming increasingly popular but there has yet to be an industry coverage standard. Many dog and cat owners are finding that…

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Pet insurance is offered by a growing number of companies

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Though traditionally a very small market, as the popularity of these products take off, insurers are taking notice. When it comes to pet insurance, companies are now starting to see a far greater opportunity than was ever available before, as owners start to consider animals as furry family members instead of a beast that is somewhat disposable. The importance of these animals – especially dogs and cats – has lead to massive advancements in veterinary medicine. While the evolution of veterinary medicine has made it possible to provide these animals…

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Pet insurance claims seem to be getting weirder

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The Pets Best insurer has released another annual list of strange claims for the summer months. A leading nationwide pet insurance company has now released its annual list of the most bizarre claims that have been filed with the provider throughout the summer months, to draw attention to the importance of being careful to protect animals from the unique risks that are presented throughout the hottest parts of the year, and to the difference that coverage can make. The Pets Best Insurance Services, LLC list of bizarre claims has now…

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Pet insurance is helping more pets survive cancer

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According to Aquarium, a software provider for insurers, coverage is contributing to animal survival. According to pet insurance software company, Aquarium, companion animals such as cats and dogs are surviving cancer at a notably higher rate because of the treatments that their owners can afford through their coverage. This has created a direct link between animal health coverage and their cancer survival rate. For the majority of animal owners who do not have coverage, being able to afford cancer treatment for their beloved furry friends would be cost prohibitive. However,…

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