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Pets benefiting from thriving pet insurance industry
Pet Insurance News
29 November 2005 Pets benefiting from thriving pet insurance industry
Pets' priority in the home is becoming increasingly evident from the rise of cat and dog insurance. A report in the Gwinnet Daily Post found that the 'humanisation' of pets could be attributed to the $160 million spent on pet insurance this year in the US.
VPI, the largest pet insurance company in the US, has experienced a 650 per cent rise in insurance policies over the past ten years and major companies such as Google, AOL and Ford Motor Company are among a number which offer pet insurance policies for their employees.
One reason which the report identifies as boosting sales of pet insurance is the fact that pets can now benefit from more sophisticated treatments such as chemotherapy and ultrasound.
Although improving and maintaining the health of pets, such treatments can prove to be a costly experience for owners.
A report released earlier this year found that the growing humanisation of pets within the home may be due to the rise of same-sex couples and people choosing to live on their own.
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