A closer look at the NAIC's Pet Insurance Model Act

Insurance regulators recognized the growing need for more standard and comprehensive pet insurance guidelines.

By FC&S Editors | October 26, 2022 at 12:45 PM

A 2021-2022 survey conducted by the American Pet Products Association (APPA) found that 70% of households own a pet. Among the 70%, there are 69 million U.S. households that own a dog compared to 45.3 million households that own a cat. (Adobe Stock)

Americans love their animals and spend billions a year on toys, food and veterinarian expenses.

Medical costs for pets can be as expensive as medical costs for humans, but until recently there was no such thing as pet insurance.

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