There are very few companies in the US that will provide comprehensive accident and illness coverage for older pets, and it was a niche we are excited to fill
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Philadelphia, PA (PRWEB) October 29, 2008
Petplan, the world's leading and most respected pet health insurance provider, operating in 46 states in the U.S., is now available to pet parents in New York and Connecticut. The New York and Connecticut Insurance Departments have given the green light to Petplan to enter the rapidly expanding market for health insurance for cats and dogs, effective immediately.
Petplan covers 40% of insured pets in the UK and was launched in Philadelphia two years ago. Chaired by Vernon W Hill II, famous for founding and growing Cherry Hill, N.J.-based Commerce Bank into one of the most successful banks of the decade, Petplan has grown rapidly and, according to the independent website http://www.petinsurancereview.com , is already the nation's #1 rated pet health insurance provider in customer satisfaction due to exceptional customer service, unique customizable policies and extensive coverage that includes hereditary conditions. The market for pet insurance has grown in recent years as veterinary fees increase and more sophisticated, expensive medical treatments have become available for pets.
Petplan has no age restrictions in its policies and will insure newly enrolling cats and dogs of any age. "There are very few companies in the US that will provide comprehensive accident and illness coverage for older pets, and it was a niche we are excited to fill" says Natasha Ashton, co-founder of Petplan. "This significant enhancement to our market-leading coverage has already been embraced in New York and Connecticut, and the company has been inundated with applications since our launch."
· It is estimated that there are over two-and-a-half million dogs and four million cats in New York. Fewer than 100,000 of them currently have health insurance.
· It is estimated that there are 518,000 pet dogs and 788,000 cats in Connecticut. Fewer than one percent of them currently have health insurance.
· According to the American Pet Products Association, Americans spend in excess of $42 billion on their pets; however, only less than half of 1% of pet owners has pet insurance, according to Petplan Pet Insurance. This translates to only about 750,000 insured pets out of the approximately 160 million dogs and cats living in the U.S. (In Great Britain, about 20% of pet owners carry insurance).