Like many significant initiatives, Sharon Brown’s (pictured) decision to launch the Pet and Equine Insurance Sustainability Network stemmed from personal experience. As a passionate animal lover with a menagerie that includes horses, dogs, cats, and ducks, she has witnessed firsthand the rising costs of pet and equine insurance, coupled with shrinking coverage. “It’s frustrating and disheartening for those of us trying to protect our animals,” she said. “Each year, premiums increase regardless of claims history, making insurance less affordable for many.”
The crux of the issue lies in escalating veterinary fees, which are driving up insurers' claims costs. Brown recognised this as one of the leading causes of unsustainable premium increases and contacted industry experts to understand the broader impact. This, in turn, led her to realise that systemic challenges, particularly the spiralling cost of vet treatments, are driving the insurance market towards a breaking point. The recent Competition and Markets Authority (CMA) investigation into the UK veterinary services market further highlighted this issue, she said.
Through her research, Brown identified the need for a platform where industry experts could collaborate to address the impact of rising vet fees and their consequences for claims costs. “The only way forward is by working together to address the pressing questions shaping our industry,” she said, emphasising the importance of understanding how vet costs directly influence insurance premiums.
The key concerns she raised include:
These questions highlight a significant problem within the sector. Brown noted that the outcome must satisfy all stakeholders with solutions that balance the needs of the industry, policyholders, and veterinarians. “Everyone needs to leave the party with a balloon”, she said, highlighting the importance of achieving a fair outcome for all involved.
She pointed to examples from other sectors, such as private medical insurance and motor repairs, where industry collaboration led to the successful management of rising costs. However, in pet and equine insurance, the continuous rise in vet fees drives premiums to unsustainable levels. “The goal of the Pet and Equine Insurance Sustainability Network is to bring the industry together to find a solution,” she said. “If we don’t act soon, the pet and equine insurance market will hit a tipping point.”
Brown outlined that prevention is equally important. Educating pet owners to focus on preventative care, ensuring animals maintain good health and reducing unnecessary visits to the vet is essential for lowering overall claims. “If we can support and educate owners, we can minimise the need for vet care, which ultimately benefits everyone: the owners, insurers, and, of course, the animals themselves,” she said.
Consumer complaints are increasing due to rising premiums and shrinking coverage. This trend has far-reaching consequences for the insurance and broker communities and, more importantly, for animal welfare. “Without insurance, many people won’t be able to afford the vet care their animals need.”
Beyond cost, the wider role animals play in the nation's mental health must also be considered. The bond between humans and animals significantly contributes to emotional well-being, she said, and affordable, accessible care is crucial for preserving that connection.
While the network is still in its early stages, Brown said she has been encouraged by the positive response, particularly on LinkedIn. She has engaged with many stakeholders, including pet and horse owners, veterinarians, insurers, brokers, and regulators. Although feedback from the veterinary community has been mixed, there is widespread acknowledgement that vet fees must be addressed to secure the future of pet and equine insurance.
Looking ahead, Brown shared plans for a November 21 think tank event hosted by Howden. This exclusive gathering will bring together leaders from insurers, brokers, MGAs, and other key stakeholders to tackle the industry's pressing questions. The event will feature panel discussions, data presentations, and an open Q&A session.
“I’m excited about the unique opportunity this event presents to shape the future of pet and equine insurance in the UK,” Brown said. “No-one has previously approached this problem from an independent, sustainability-focused perspective. We can address these challenges head-on by bringing experts together to focus on rising veterinary costs. The industry may feel fragmented, but we must start somewhere. And I’m ready to take the lead.”
You can join The Pet and Equine Network on LinkedIn to keep up to date with activity.
