Will the CMA tame pet insurance costs?

Rachel Mulheron, associate director for pet at Hood Group, kicks off the podcast by explaining how veterinary costs not being regulated, advancements in treatments and the growing number of consortiums of corporate, commercial vets with high sales targets have combined to push up the cost of pet insurance at a faster rate than inflation.

With the CMA’s decision expected next month (March), Justin Clarke, chief underwriting officer of ManyPets, and Samantha Webster, chief veterinary officer of Vet AI, outline why the authority's proposals on pricing transparency and prescriptions could fail to reduce the price of pet insurance.

David Allison, head of intermediary consultancy (South) for Insurance Compliance Services, considers whether sales processes sufficiently ensure customers who may pay £20 a month when their pet is young could face premiums that are three or four times that in future.

The Financial Conduct Authority’s growing focus on complaints relating to pre-existing conditions and consumer understanding is also discussed.

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