NAPHIA Announces Pet Insurance Market Reaches $1.42B in North America


North America’s pet health insurance sector reached another major milestone, with total premium volume in North America reaching $1.42 billion USD by the end of 2018, according to the North American Pet Health Insurance Association (NAPHIA).

Industry data also showed that 2.43 million pets were insured in North America over the same period. In 2018, the U.S. saw an increase of 18% to 2.16 million pets. In Canada growth of 10.9% resulted in 277,000 pets insured in 2018.

Since 2013, the association has monitored industry trends based on data gathered independently from North American pet insurance companies. The annual State of the Industry report is compiled by Willis Towers Watson, who collects, aggregates and validates the data.

NAPHIA Executive Director Kristen Lynch said that an increasingly significant portion of pet insurance policies in force – 93% – are for accident and illness coverage. In the U.S. this figure is higher, representing 98% of coverage.

Rick Faucher, President of NAPHIA’s Board of Directors, and President of the Pet Health Division for The IHC Group, noted that the industry continues to see tremendous growth and interest since it began tracking and publishing its key benchmarks.

“Beyond what our industry data tells us, there are many other indicators that pet health insurance is a robust line of insurance,” said Faucher. “There have been several acquisitions of pet insurance companies this year, and we’re seeing a number of new market entrants.”

NAPHIA’s State of the Industry 2019 is available for download at

Other 2018 Industry Highlights:

In the U.S.

  • the average accident and illness premium for dogs was $566 or $47/month
  • the average accident and illness premium for cats was $354 or $29.50/month

In Canada

  • the average accident and illness premium for dogs was $734 or $61/month
  • the average accident and illness premium for cats was $400 or $33/month

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The North American Pet Health Insurance Association (NAPHIA) is comprised of reputable pet health insurance organizations from across Canada and the United States. As a coalition, NAPHIA works to advance and grow the pet insurance industry and marketplace through proactive research, data sharing, benchmarking initiatives, advocacy efforts, strategic partnerships, resource sharing and the dissemination of information to collaboratively address challenges and opportunities.