UPDATED: Feb 25, 2020
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Last fall we blogged about the growing trend in pet insurance. Well, a new report out this week estimates Americans will spend around $1.1 billion (yes, with a ‘b’) annually on pet insurance by the year 2012. Pet insurance revenues for 2007 were estimated to be near $248 million, which is an increase of 21 percent over 2006 revenues.
The report cites the growing number of affluent households in the United States and their willingness to spend money on their pets’ health care needs.