Pet Insurance

An Arizona insurance firm said Monday it has agreed to purchase up to $4 million of nonvoting preferred stock in Anaheim-based Veterinary Pet Insurance, which issues insurance policies covering dogs and cats. "Pet insurance is a relatively young industry that has seen tremendous growth the last couple of years," said Mike Miller, vice president and treasurer of Scottsdale Insurance Co., which is acquiring the preferred stock.

There was a moment late last month when I thought that what was wrong with Clunk might merely be expensive. That was when, after roughly $400 of tests, I agreed to a $600 surgery to remove a tennis ball-sized tumor from his elbow. The bill for this turned out to be $1,600. There have been many brutal moments since then, the most wretched of which was when it became clear that what was wrong with Clunk was not only expensive but also fatal.

Veterinary Centers of America Inc. will pay as much as $6 million to acquire 25% of Anaheim-based Veterinary Pet Insurance Inc., the largest U.S. pet health insurance company. Under the agreement, Veterinary Centers will receive convertible preferred stock, as well as the choice of buying one common share of the insurance company for each preferred share.

Those doe-eyed, tail-wagging pooches waiting for new homes may be as loyal as any dog lover could want. But anyone planning to adopt or purchase a dog should beware: Fido or Fifi could be a killer when it comes to homeowner liability insurance. Based on the dog-bite claims they see, insurers feel that some breeds are a poor risk.

A Santa Ana company that sells health insurance for dogs and cats was accused by the state insurance commissioner's office Wednesday of taking too long to pay claims and of misleading advertising. Insurance Commissioner John Garamendi said a random survey of 256 claims made to Veterinary Pet Insurance Co. showed that only five claims were paid within 30 days, the insurance industry standard. The remaining claims took 90 days or more to process.

Holiday gift-giving presents opportunities for retailers of everything imaginable--even health insurance for your pooch. Veterinary Pet Insurance Co., the Anaheim insurer of dogs and cats, has launched its first marketing campaign to raise awareness of its product during the holidays. A recent survey by the American Animal Hospital Assn. indicated that 79% of pet owners give holiday or birthday presents to their charges.

Those pesky health problems plaguing Poochie represent a rapidly growing market for insurance. Veterinary Pet Insurance Group, an Anaheim insurer, covers 75,000 dogs and cats--twice the number of two years ago--in 39 states. And there's surely more to come, with the company expecting to get approval to market its policies across the rest of the nation this year. "As the awareness is building that pet insurance is available, more and more pet owners are taking advantage of it," says Rebecca F.

Health insurance without an HMO? Surgery without pre-authorization? It does exist, but--sorry--it's for dogs and cats. Perhaps you've seen brochures at your vet's office and wondered about insurance for Maggie the Maltese or Taffy the tabby. The California Veterinary Medical Assn. "strongly backs the concept," says Sacramento veterinarian Dr. Tom Kendall, a past association president. Kendall adds, "The care we want for our beloved pets is just as high as we want for ourselves.

Listening to clients like Jon Snyder, you'd think Veterinary Pet Insurance Co. would have the cat and dog world on a short leash. Policy in hand, Snyder went to Anaheim-based VPI "crying like a big baby" when Jenna, one of many Great Danes he has owned, was diagnosed with bone cancer in her right front leg. His veterinarian was talking about amputation for a dog so active that her nickname is "Roadrunner."

Soon after Robin Leonard adopted a 3-year-old Welsh terrier last summer, the dog began experiencing severe gastrointestinal problems. Numerous vet visits, special diets and medications later, Moka now faces an intestinal tract biopsy. "We love her dearly and we'll spend what it takes," says Leonard. "But we were astounded when we figured out that the little creature has been costing us $150 to $200 a month."

The news release from VPI Pet Insurance began, "True Dedication is not measured in ticket sales or Terrible Towels. True dedication is the fan with a cat named Roethlisberger or a poodle named Polamalu." Hard to argue with that. For fun, VPI used its database of more than 467,000 insured pets to find which of the Super Bowl participants had inspired the most fans to name pets after its team or players.

On the Web site devoted to his animal insurance business and a nonprofit foundation he created to celebrate the healing power of pets, prominent Orange County veterinarian Jack L. Stephens proclaims his love for nonhumankind. "Very simply," the owner of nine dogs and two cats writes in an online resume, "I founded a pet insurance company to see that pets get the best of care and not have to be put to sleep."

Zachary has endured chemotherapy, five hip and knee operations, and gall bladder surgery. He takes a daily diet of prescription drugs to combat nausea and other maladies, and gets intravenous fluids at night because of kidney failure. "He's going strong. Last July, you would have never thought he'd make it a couple more weeks," said Donna Raichle, 54, who spends about $400 a month on Zachary's care. Zachary, by the way, is a 12-pound Yorkshire terrier. His lengthy medical file may be one clue that the era of pet health insurance has arrived.

From his office in Redwood City, attorney Rick Williams is keeping close tabs on the Los Angeles trial of two San Francisco lawyers charged in the fatal dog mauling of their neighbor. When the criminal case of dog owners Marjorie Knoller and Robert Noel is resolved, Williams will have to defend his clients--the owners of the apartment building where tenant Diane Whipple was killed--against wrongful death civil suits filed by the victim's partner and mother.

Health insurance without an HMO? Surgery without pre-authorization? It does exist, but--sorry--it's for dogs and cats. Perhaps you've seen brochures at your vet's office and wondered about insurance for Maggie the Maltese or Taffy the tabby. The California Veterinary Medical Assn. "strongly backs the concept," says Sacramento veterinarian Dr. Tom Kendall, a past association president. Kendall adds, "The care we want for our beloved pets is just as high as we want for ourselves.

An Arizona insurance firm said Monday it has agreed to purchase up to $4 million of nonvoting preferred stock in Anaheim-based Veterinary Pet Insurance, which issues insurance policies covering dogs and cats. "Pet insurance is a relatively young industry that has seen tremendous growth the last couple of years," said Mike Miller, vice president and treasurer of Scottsdale Insurance Co., which is acquiring the preferred stock.

Zachary has endured chemotherapy, five hip and knee operations, and gall bladder surgery. He takes a daily diet of prescription drugs to combat nausea and other maladies, and gets intravenous fluids at night because of kidney failure. "He's going strong. Last July, you would have never thought he'd make it a couple more weeks," said Donna Raichle, 54, who spends about $400 a month on Zachary's care. Zachary, by the way, is a 12-pound Yorkshire terrier. His lengthy medical file may be one clue that the era of pet health insurance has arrived.

Holiday gift-giving presents opportunities for retailers of everything imaginable--even health insurance for your pooch. Veterinary Pet Insurance Co., the Anaheim insurer of dogs and cats, has launched its first marketing campaign to raise awareness of its product during the holidays. A recent survey by the American Animal Hospital Assn. indicated that 79% of pet owners give holiday or birthday presents to their charges.