Home

Instant Insights / Pet insurance: What to know

Here's everything clients and agents need to know about pet illnesses, accidents and insurance.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
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.

During the pandemic, one in five households adopted a pet, the American Society for the Prevention of Cruelty to Animals reported. This has helped lift the market, as has the growing number of veterinary clinics that have opened globally, according to Allied Market Research.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Steve Hallo

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

More from this author

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.