State of the Industry Report 2015

Pet Health Insurance Industry in North America Posts Record Growth in 2014

June 3, 2015

FOR IMMEDIATE RELEASE – North America’s pet health insurance sector posted record growth this year, with combined total premiums hitting $660.5 million in 2014, and the total number of pets insured reaching 1.4 million, according to the NAPHIA State of the Industry Report, just released.

This represents a 12.8 percent hike in gross written premiums over 2013, on 10.6 percent more pets.

Dennis Rushovich, president of NAPHIA, whose members account for over 99 percent market share in North America, says that as the human/pet bond continues to grow, pet health insurance is becoming an increasingly integral aspect of responsible pet ownership. “Pets have moved from the barnyard to the backyard to the bedroom,” says Rushovich, who is also president of Hartville Pet Insurance Group. “As a result, this industry’s growth continues to outpace most other insurance categories.

The North American Pet Health Insurance Association (NAPHIA) announced the results at its Annual Industry Summit alongside its release of the 2015 NAPHIA State of the Industry Report, which tracks trends in the industry based on data gathered independently from member companies. This year, for the first time, the report includes all of the major companies offering pet health insurance in North America — representing over 99 percent of the market share.

“Our membership has now grown to include the entire industry, aside from a few companies that are brand new in this space or may be operating in smaller, regional markets,” says Lynch, noting that this is also the first year the report breaks out the data by the U.S. and Canada and by state/province. “We’re excited about this report because now we have a truly definitive picture of what’s happening in this sector — all of the data came from the member companies, and every major pet health insurance provider participated.”

The report’s highlights and executive summary are being released via NAPHIA is also releasing a more in-depth premium version that includes geographical breakouts, extended data trending and exclusive analysis on key industry benchmarks.

For more information, or to obtain a copy of the report highlights, contact Kristen Lynch at or 1-877-962-7442.

The North American Pet Health Insurance Association (NAPHIA) is comprised of reputable pet health insurance (PHI) organizations from across Canada and the United States. NAPHIA’s membership makes up over 99% of all pet health insurance coverage in effect in North America.

As a coalition, NAPHIA works to advance and grow the PHI industry through proactive research, data sharing, benchmarking initiatives, advocacy efforts, strategic partnerships, resource sharing and the dissemination of information to collaboratively address challenges and opportunities.

Each year, NAPHIA marks its performance and growth with the release of its State of the Industry Report at the annual NAPHIA Summit.


  • The combined total premium volume for all NAPHIA members in North America was approximately $660.5 million in 2014, which represents an increase of 12.8% in GWP over the previous year. From 2012 to 2014, the average annual growth rate in GWP was approximately 14.5%.
  • Over 1.4 million pets were insured at year-end 2014 in North America. This represents an average annual growth rate of 12.6% from 2012 to 2014.
  • Dogs represented approximately 83% of In-Force Gross Written Premium in 2014.
  • Cats represented 17% of In-Force GWP in 2014.
  • Average Pet Insurance Premiums in 2014
    • Accident & Illness plans generated an average annual premium of approximately $433 per insured pet – or $36.08 per month.
    • Accident Only plans generated an average annual premium of $154 per insured pet – or $12.83 per month.