"Even Sick Puppies Can Join"... KB Insurance Eases Pet Insurance Criteria

Enrollment Under 'Non-Coverage' Conditions Excluding Certain Disease Coverage

KB Insurance is easing the criteria to allow pets with prior illnesses to enroll in pet insurance.

On the 6th, KB Insurance announced that it will significantly relax the underwriting standards for the 'KB Geumjjokgateun Pet Insurance' launched last June. Previously, pets with a medical history were restricted from joining pet insurance, but now by disclosing past illnesses, only the parts related to those diseases will be excluded from coverage through a newly introduced 'exclusion endorsement' system, lowering the barrier to enrollment. An exclusion endorsement allows insurance enrollment under the condition that certain body parts or diseases are excluded from coverage for a specified period or indefinitely.

For example, a small dog that has been treated for 'patellar luxation,' a common condition in small dogs, can enroll in pet insurance by disclosing this and accepting an exclusion endorsement for 'musculoskeletal diseases.'

Dogs can enroll with exclusion endorsements for 12 diseases based on pre-contract disclosures. These include common diseases such as patellar luxation, allergies or atopy (chronic dermatitis), as well as chronic otitis externa, urolithiasis, cystitis, demodicosis, keratoconjunctivitis sicca (dry eye), cataracts, glaucoma, hip dysplasia, avascular necrosis of the femoral head, and heartworm disease.

Cats are eligible for exclusion endorsements covering 16 diseases, which include the 12 diseases applicable to dogs plus periodontal disease such as chronic periodontitis, urinary system diseases like feline lower urinary tract disease, chronic enteritis, and feline infectious peritonitis. However, the number of diseases that can be covered under exclusion endorsements is limited to one.

A KB Insurance official stated, "The current number of pets in Korea is estimated to be about 8 million, and pet-owning households account for about 25% of all households, but due to high premiums and insufficient coverage, the pet insurance subscription rate is less than 1%. We will lower the enrollment barriers for sick pets that were previously difficult to insure and contribute to the activation of pet insurance."