Pet Insurance

Summary

This practice note addresses pet insurance, which is an increasing segment of the property and casualty insurance market. While it was once a niche, nearly insignificant product, one commentator has cited that as of the end of 2021 nearly 4 million pets were insured in North America producing some $2.8 billion in total in-force pet insurance premiums. With that popularity and growth have come increased legislation and regulatory attention, even by the National Association of Insurance Commissioners (NAIC).