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The Arizona Department of Insurance and Financial Institutions has announced a new law regarding dogs and homeowners policies that goes into effect June 30, 2023.

JAB anticipates generating around $1.5 billion in global gross written premium from its pet insurance portfolio this year.

The likelihood of consumers purchasing insurance for valuables, pets and households varies based on age, education and location.

The average cost reached $64,555 on a per claim basis, according to the Triple-I, which reported dog-related injury payouts exceeded $1B in 2022.

The legislation should help consumers better understand how to select pet insurance versus pet wellness plans.

The figures are from the NAIC's 35th annual State Insurance Department Resources Report.

Despite pets now being prioritized as family members, the penetration of pet insurance remains exceptionally low.

As this interactive map illustrates, states have moved from statutes governing certain breeds to qualifying dangerous-dog behaviors.