Michael Maloney
10/05/99 09:43 AM
To: Eric Hornick/Centre-Re@Centre-Re
cc:
Subject: This must be a BOW WOW Job!!!!
Monday October 4, 7:38 am Eastern Time
Company Press Release
FEATURE/ Importance of Pet Health Creates First Official Pet Actuary
ANAHEIM, Calif.--(BUSINESS WIRE FEATURES)--Oct. 4, 1999--Veterinary Pet
Insurance, the nation's oldest, largest and number one licensed pet
medical insurance provider, has taken another pioneering leap in the
insurance industry.
Together, Veterinary Pet Insurance and National Casualty Company, the
underwriter of Veterinary Pet Insurance policies (outside of California),
have originated the country's first official pet actuary.
Phil Panther, the United States' first pet actuary, is an actuarial
assistant at National Casualty Company and is making insurance history. As
a pet actuary, Panther forecasts how changes in the variables affecting
pet health care will impact the future of the pet medical insurance
business.
``Since 1982, Veterinary Pet Insurance has processed nearly 1 million
accident and illness claims and accumulated important data relating to the
health of pets - data that really doesn't exist anywhere else in the pet
industry,'' said Jack Stephens, DVM, president and founder of Veterinary
Pet Insurance. ``Phil is now able to analyze the statistics on veterinary
fees, frequency of diagnosis and other data to help us keep our policies
and benefit schedules up-to-date.''
The role of the pet actuary is beneficial to pet owners and veterinarians
because it helps Veterinary Pet Insurance improve and expand its coverage
based on a better understanding of the available data. Most recently, for
example, states have started to adopt new Veterinary Pet Insurance benefit
schedules that increase both the incident and annual benefit maximums for
each available plan.
``I have really enjoyed the unique experience of being involved with
Veterinary Pet Insurance,'' Panther said. ``It's very rewarding to work
with a company that protects pet owners against the financial hardships
they face when unanticipated health problems arise. Veterinary Pet
Insurance indirectly lengthens the life expectancy of pets by giving pet
owners affordable options.''
Veterinary Pet Insurance offers two accident and illness plans. Policies
start at $89 per year, and cover more than 6,400 medical conditions. For
an additional $99 a year, pet owners can add a Vaccination & Routine Care
Coverage rider to either base policy. In return, they can receive up to
$213 of routine care benefits, with no co-pay or deductible. Benefits
include vaccinations, a yearly exam, choice of heartworm testing or
medication, fecal exam, deworming, microchip pet identification, and
prescription flea control. Pet owners also have the annual choice of
spay/neuter, teeth cleaning or a comprehensive health screen. Unlike many
human health care policies, Veterinary Pet Insurance policies allow pet
owners to use the veterinarian of their choice, including specialists,
without any pre-authorization.
Founded in 1980 by 750 independent veterinarians, Veterinary Pet Insurance
is the nation's oldest and largest licensed provider of health insurance
for dogs and cats. Policies are licensed in 47 states and the District of
Columbia. Over 850,000 Veterinary Pet Insurance policies have been sold
and are exclusively endorsed by the American Humane Association. For more
information, call 1-800-USA-PETS (in Texas, call 1-877-PET-HEAL) or visit
www.petinsurance.com.
--------------------------------------------------------------------------------
Contact:
Harmon Smith, Inc.
Jody Hanson
816/756-0756
jhanson@harmonsmith.com
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