The growing importance and necessity of pet insurance : a comprehensive study on the introduction of pet insurance in Malta

Abstract

This research investigates the importance and necessity of pet insurance locally. Many pets are forced to live with horrible illnesses or diseases because treatments might be too expensive to afford. This research explores various loss occurrences involving pets, which have transpired over the past years, and analyses them, along with other research results obtained, as a means of stressing the importance of introducing pet insurance locally. This study also highlights the improved awareness of pet healthcare in Malta, pinpointing regulations recently enacted and the introduction of micro chipping technology, which present better control over animals. These developments have stepped up the importance of animal healthcare locally. The costs of such care have become a key factor in pet owner finances. The study progresses to analyse results obtained from both the respondents and stakeholders in this insurance field and recommends the basis on which pet insurance could possibly be introduced locally.