In recent years, the domestic pet rate has been rising and the pet industry market has expanded. The pet sector now also has a pet insurance policy, which costs hundreds of dollars a year, thus increasing the protection of pet health. Patients have admitted that insurance is provided because it is now affordable for pets to see patients and can provide an additional layer of security. On the complaint platform, a number of pets also indicated that while the pet insurance appeared to be cost-effective, there was a possibility of “stamping” and that individual insurance would raise issues of compensation. In the financial sector, it is considered that a pet can purchase insurance based on his or her own demand for pet care and that the insurance provisions need to be carefully read in the light of the selection.
It's worth more than $20 a month to buy a pet insurance policy, and the Scavenger wants to pay for the pet's health. Ms. Jenan Patron, said that she had recently purchased a one-year insurance policy for her pet cat from a web platform, with only $24.75 per month to be paid in instalments. Patient insurance for telecom sales.
Referring to the reasons for the purchase of insurance, Ms. Kong admittedly said that the annual cost of a cat medical examination would be 300 and 400, making it more cost-effective to take into account the pet insurance offered for medical examinations.” Moreover, it is not cheap for a pet to see. Last time my cat threw up, it cost 1000 dollars, and if you had a pet insurance, you could have reimbursed some money.” Patients, who also live in Jinan, were also selected for pet insurance for their own cats. "My pet insurance costs less than $400 a year, and even though it hasn't been used yet, it's a relief." From the point of view of 昕昕, pet insurance is no different from human insurance, with an additional guarantee from the point of view of medical expenditure.
It is noted that now known financial insurance companies such as the Public Security Insurance, the Pacific Product Insurance and the National Thai Product Insurance have introduced appropriate pet insurance covering medical, accident, etc. The premium for pet insurance is between $200 and $1,000 per year, and a pet can be insured according to his or her health and age.
It is worth mentioning that part of the insurance is accompanied by vaccines, medical consultations, medical examinations, etc. In addition, some of the pets are connected to the designated pet hospital, and the rate of reimbursement is relatively high for pets who visit the designated hospital. It is not difficult to find that a number of “strawing officers” are willing to take out insurance for pets when they complain about the loss of pets, the scope of the settlement, the amount of which is disputed, and the social platform of a lover. However, different pet insurance issues and disputes arise in the settlement of claims. On 9 December, more than 400 matching results were posted on the Black Cat Complaints Platform to retrieve the pet risk. Some consumers claimed that they had experienced problems in paying compensation for the care of their pets.
“My cat is inflammated by broken teeth and needs to pull his teeth. After the operation, the insurance was rejected on the grounds that the tooth removal was not due to illness or accidental injury. But it's a dental disease. Why can't it be compensated?" An Internet friend of a cat claimed that when he first bought the pet insurance, he clearly saw that the policy covered “oral disease”, while the pets were denied compensation after they pulled their teeth because of oral problems.
Netizens stated that on the pet insurance pamphlet she had previously purchased, the amount of compensation was stated to be up to $15,000, “but it was only when paid that it was discovered that there was a limit of up to $1,500 per accident. 雯雯 states that despite the success of the payment, the amount of compensation covered is significantly different from psychological expectations.
The web platform also includes financial owners who have compiled a “trip-up” list of pet insurance, which provides a detailed inventory of the advantages and disadvantages of the big pet insurance on the market. Among these, high-profile issues include the low number of targeted hospitals, slow payment processes, support for only telephone settlements, long waiting periods for entry into force, and non-scheduled hospitals without compensation.
The growing size of the pet industry and the need to regulate domestic pet insurance According to the White Paper on the Chinese pet industry of 2021, China ' s urban households had 5,806,000 pet cats and 5,429 dogs in 2021. The White Paper on Trends in the Consumption of Chinese pets for 2021 shows that the country ' s pet industry market will be close to $300 billion in 2020, and that the industry is expected to continue to grow at a steady rate of 14.2 per cent over the next three years, reaching $44.56 billion by 2023.
“These data are also sufficient evidence of the huge size of our pet market. After all, pets are "living" and require health care, medication, medical procedures, etc." In the view of Ms. Zhao, a professional with many years of medical experience, pet insurance can indeed reduce the burden of pet care and, to some extent, reduce pet medical expenses. “Appropriate, formal pet insurance can provide some protection for pet health. Once a pet needs medical attention, even by accident or disease, the pet owner can reduce the loss.” The pet insurance is no longer a “fresh product” in European and American countries. In September this year, a pet overseas information platform showed that the American Association of Insurance Commissioners (NAIC) had adopted the Model Law on Petty Insurance, which refined and regulated the pet insurance legislation.
“At present, there are still gaps in the regulation of pet insurance and there are no excessive restrictions and regulations. As the emerging insurance sector develops, problems will inevitably arise, and what consumers need to do is to look bright and carefully read the insurance attention and the content of the safeguards.” In the view of a financial practitioner, consumers should try to select the services of well-known insurance companies when insured for pets, carefully reading the basic rules of insurance and avoiding disputes in settlement of claims.