Although coverage for dogs made up the lion share of policies during 2020, accounting for more than four-fifths of the global market, insurance policies covering cats are anticipated to see higher growth during the forecast period, according to Allied Market Research. (Credit: iamnottaa/Shutterstock) Although coverage for dogs made up the lion share of policies during 2020, accounting for more than four-fifths of the global market, insurance policies covering cats are anticipated to see higher growth during the forecast period, according to Allied Market Research. (Credit: iamnottaa/Shutterstock)

The worldwide pet insurance sector is anticipated to see a value of $16.81 billion by 2030, according to Allied Market Research, which projects the market to see a 14.3% compound annual growth rate (CAGR) during the period.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]