Rising Vet Costs and Innovation Shake Up the Pet Insurance Market

BMO launches pet insurance

2 Dec 2025

BMO Insurance is entering Canada’s growing but underdeveloped pet insurance market, targeting rising veterinary costs and increasing pet ownership. Partnering with Trupanion, BMO emphasizes early adoption to cover pets throughout their lives and avoid pre-existing condition issues, though routine care and certain procedures are excluded. The launch is part of BMO’s broader digital insurance strategy, with a unified platform allowing customers to manage multiple policies in one place. Pet insurance currently reaches only 2–3% of Canadian households, but analysts expect annual market growth of 10–13% as awareness increases. CEO Rohit Thomas highlighted that coverage can help families manage high vet bills without financial stress.

Pumpkin Warns Pet Parents of Holiday Hazards as New Data Reveals the Top Things Pets Swallow — and the Surprising Vet Costs Behind Them

2 Dec 2025

Pumpkin Pet Insurance warns pet owners to stay vigilant this holiday season as festive foods and decorations pose risks for dogs and cats. Between 2020–2025, chocolate was the top hazard for dogs, with an average emergency vet bill of $1,100, while string and similar objects were the leading cause of dangerous ingestions in cats, costing $2,500+ on average. Toys, socks, corn cobs, sticks, and rocks also account for significant emergencies, with vet bills ranging from $500 to $4,400. Pets often ingest objects due to curiosity, stress, or pica, and warning signs include vomiting, lethargy, bloating, or pawing at the mouth. PumpkinNow™, the insurer’s urgent pay service, allows eligible claims to be paid within minutes, helping owners cover emergency treatment quickly during the high-risk holiday period.

Pet insurance faces structural strain amid rising vet costs

1 Dec 2025

The UK pet insurance market, valued at around £2 billion, faces rising veterinary costs and operational strain, despite stable pet ownership and insurance penetration. ManyPets’ Sophia Pilkington-Miksa notes that advanced treatments like MRI scans and stem-cell therapy have driven bills up 70–80% over the past decade, pressuring both pricing and customer value perception. Fragmented systems and unclear product structures make switching insurers difficult, especially due to pre-existing condition exclusions, highlighting the need for transparency and customer control. AI and automation are reshaping distribution and claims, enabling personalised coverage suggestions and faster, cost-effective claim processing. The sector’s future lies in innovating beyond traditional models to make pet care more affordable, understandable, and aligned with sophisticated veterinary needs.