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The New York State legislature recently passed a bill that will, if approved by Governor Hochul, create a regulatory framework for the issuance of pet insurance in New York, mirroring similar legislation enacted in states...more
The National Association of Insurance Commissioners (“NAIC”) has recently passed the Pet Insurance Model Act (the “Act”). The NAIC’s passing of the Act follows a continued increase in annual premiums in connection with pet...more
Throughout the pandemic in both the U.S. and abroad, shelters, nonprofit rescues, private breeders and pet stores have reported higher demand for pet ownership than the number of pets to fill it. Not surprisingly, new pet...more
For the sixth consecutive year, the pet insurance industry experienced double-digit growth, according to a new report from the North American Pet Health Insurance Association (NAPHIA). NAPHIA’s “2021 State of the Industry...more
The NAIC’s Pet Insurance Working Group continues to moo-ve ahead with the development of a Pet Insurance Model Act (Model). The Model is based in large part on California’s existing pet insurance law. On its March 6...more
According to a survey conducted by the American Pet Products Association, in 2019 approximately 70% of American households include a pet, a number that we will likely see increase this year as a result of COVID-19. It seems...more
Calling all pet parents! At least 20 companies currently provide pet insurance, but there has traditionally been little regulatory supervision surrounding these products — until now. The National Association of Insurance...more
Pet insurance is receiving increased attention by regulators. At the National Association of Insurance Commissioners (NAIC) Summer Meeting in August 2019, the Plenary Committee adopted a white paper entitled “A Regulator’s...more