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Pet insurance sales hit record numbers

The last decade has seen the emergence of a new and popular sub-sector of the insurance industry – pet insurance. The sector has grown from literally a standing start a decade ago to over £440 million in premiums in 2007 alone, with forecasts indicating substantial growth still left in the sector. So why has pet insurance suddenly taken off? What are the reasons behind this sudden increase in popularity?

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Pet Owners Finding Medical Costs Crippling

A report by Sainbury’s has brought the plight of the UK’s pet population to the attention of the masses with news that over 1.5 million pets were put down last year because owners could not afford the treatment required. The report has disturbed many but when you consider that the cost of veterinary treatment increased by 12% last year alone it is easy to see why so many pet owners are being forced into taking such drastic action.

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