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Pet insurance sector set for growth
16 April 2008
Thousands of animal lovers already insure their pets but the industry looks set to develop even further, according to one expert.
Pet insurance provider Healthy Pets Limited says that the sector has "plenty more room for growth" with just 20 per cent of all cats and dogs currently insured.
Mark Effenberg, chief executive of the firm, said that the UK has seen an increase in pet theft as the value of animals as a commodity rises.
"I think it is particular breed types [who are most likely to be stolen] and its valuable breeds which have got a resale value," he added.
Recent figures from the Pet Food Manufacturers Association show that last year, 43 per cent of UK households owned a pet – the majority of which were cats and dogs.
The data suggests that 7.3 million dogs make their home in the UK alongside 7.2 million cats.
Pet insurance is also important in case pets become ill and need expensive treatment. 
