Many Insurers in the public and private sector have previously
shown interest in offering to cover dogs - for canine lovers - even though it
is not very popular.
Dogs are insured under
the pets insurance which is a very popular category in foreign countries.
According to IRDA, a policy for dogs has been approved but even so the number
of policies issued is comparatively very low.
Future Generali India offers general insurance for dogs along
with cattle, horses and camels. "Though there is no limit on the sum assured and it depends on the
breed of the dog, this segment is very small and we have only a handful of
policies," said K G Krishnamurthy Rao MD and CEO.
Other insurers both from the public and private sectors face the
same issue, although insurance on cattle in the rural sector is good.
New India Insurance, Oriental Insurance, Future Generali and Bajaj
Allianz all offer pet insurance under which is the category for dogs. The sum
assured ranges from RS 15000 - 30000 - depending on the breed as mixed breeds
are insured for lesser amounts than pure breeds. The claim is processed when a
dog dies due to an accident or a disease (not a pre-existing condition). Ashok
Patil, head of rural insurance at Bajaj Allianz felt that "Pet insurance does
not have a focused approach in India. But, it has a lot of scope, especially in
the health insurance segment".
Tyagi - head of corporate business and rural agricultural business said "We
offer livestock coverage like cattle insurance policy and sheep & goat
insurance policy in the rural areas. It's a portfolio we look at with interest,
though the portfolio at this stage is very small."
Consumers look for add-on services, like Satish Mehra a 35 year old, has
a 5 year old Labrador - he has not insured him as he feels the policies are too
basic, . "I purchased my dog from an international owner and would expect
world-class services. There should be separate treatment for international
breeds and cannot be standardized under one policy."