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Underdog pet health insurance gaining pup-ularity

Underdog pet health insurance gaining pup-ularity

Compared to other personal lines, pet insurance is the “runt of the litter,” The Wall Street Journal reported Friday.

But all that could be changing, as pet health insurance, meant to cover accidents and illnesses, grows in popularity.

Last year’s gross annual premiums were 23% higher than the previous year, when the total was $837 million, according to the newspaper, citing figures from the North American Pet Health Insurance Association.

The tally of insured pets has also increased, to 1.83 million last year, roughly 16% more than the previous year. That accounts for only 1% of dogs and cats, but insurers expect growth to continue, according to the Journal.

“Twelve million puppies and kittens come into the world every year,” Rob Jackson, chief executive officer of the pet insurer Healthy Paws, told The Wall Street Journal. “There’s still great room to grow.”



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