News

Pet insurance introduced to Sri Lanka

Tuesday, 4 September 2018 News


 

Insurance in Sri Lanka has been taken to a new level with Fairfirst Insurance launching Pet insurance to the market.
The company earlier offered several customer relevant propositions like Dengue insurance, Cyber Risk Insurance, Click2Claim and the AI chat bot “Machan”.
Pet insurance essentially acts as a safety net to assist in protecting you against unexpected costs associated with your beloved pet. “Of course these costs could range from accidents, veterinary medical bills and third party liability that you could be incurred should your pet get into trouble with others,” the company said in a media release.  
Pet insurance has grown in popularity over the last decade across regions like the US, Canada, Europe, West Asia and parts of Asia. However it’s still a novel concept here in Sri Lanka. Medical costs related to pets are not getting any cheaper and Sri Lanka is no exception to this. Leveraging on the underwriting capabilities of its parent group -Fairfax Canada, Fairfirst has decided to fill this gap in the market. Commenting this new development, Head of Non-Motor Underwriting Piyantha Perera said, “We are very excited to be introducing this new line of insurance to the market. The team has carefully evaluated what could work in Sri Lanka and we are very happy with the initial response we’ve had”.

Commemorating the launch of the product Fairfirst recently held a pet adoption day together with Embark at its corporate office premises – Access Towers 2. Five puppies were taken up for adoption at this event and each pup was given a free pet insurance cover from Fairfirst. 

The Fairfirst Pet Insurance policy is available in three key plans – Silver, Gold and Platinum which comes with premiums of Rs. 2,800, Rs. 4,800 and Rs. 7,200, respectively. 
 

Pet insurance introduced to Sri Lanka