"Most pet owners believe pet insurance and wellness plans are the same thing. However, what they cover for your pet differs dramatically," according to the pet insurance carrier Trupanion™. (Photo: isavira/Adobe Stock)
Pet insurance may represent a relatively small piece of the annual premium pie in the property and casualty insurance business, but this roughly $2.6 billion market is significant enough to get the attention of state insurance regulators.
Mississippi Gov. Tate Reeves recently signed a bill into law that regulates pet insurance in that state. The Magnolia State is the second in the U.S. (after Maine) to pass such legislation, according to Mississippi Insurance Commissioner Mike Chaney. The new law goes into effect July 1, 2023.
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Elana Ashanti Jefferson
Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
