Despite Sluggish Economy, Petplan Pet Insurance Triples in Size Since 2008

PHILADELPHIA, April 21, 2011 /PRNewswire/ -- Pet health insurance, as an industry, has seen remarkable growth over the past decade.  Despite the recent economic downturn, which has forced many businesses to drastically cut expenses, the positive momentum and continued evolution of this industry has been fueled by rising costs in veterinary care and a marked change in the way American families view their pets.  Petplan, America's top-rated pet insurer, has witnessed firsthand how these factors have come together to drive the growth of the pet insurance industry as its own business has expanded rapidly.  In just the past three years, Petplan has tripled its Philadelphia-based workforce and its gross written premiums have risen by more than 2200 percent.  

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"Petplan is proof that passion, strong leadership and the right partners can help businesses create market share – even in a recession – and emerge as leaders of the recovery," says Natasha Ashton, co-founder of Petplan. "We are enormously proud that Petplan pet insurance helps pet parents budget for unforeseen accidents, illnesses and emergencies.  Time and time again, we have seen how, when a pet parent must tighten its financial belt, the ability to confidently seek the best care for their four-legged family members' health, provides essential peace of mind."  

The pet health insurance industry has demonstrated tremendous growth in a short amount of time in the United States but this growth is not exhausted. According to 2011 research from the American Pet Products Association only one percent of the 93 millions cats and three percent of the 78 million dogs in America are covered by pet health insurance policies.   For more information about pet health insurance, please visit www.gopetplan.com.  

ABOUT PETPLAN

As America's top-rated pet insurance company, Petplan offers customizable policies to meet any coverage requirements and budget for pets of all/any age.  Petplan is the only insurer to cover all hereditary and congenital conditions for the life of the pet – without dollar limits per condition. For information, visit www.GoPetplan.com or call 1-866-467-3875.

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SOURCE Petplan