Pet insurance poised to grow as consumer awareness increases

08/10/2013 | CNBC

Individuals and companies are becoming more aware of pet health insurance options, and the North American Pet Health Insurance Association estimates that the North American pet health insurance industry is worth about $500 million, with about 13% average growth annually. VPI, the first pet health insurance company in the U.S., insures nearly 500,000 pets across the country and provides employee pet insurance options for more than 3,000 companies. Petplan was started in the U.S. in 2004 and posted profits the last four years, reporting $40 million in revenue in 2012.

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