The Pet and Equine Insurance Association (PEIA) has added the British Insurance Brokers' Association (BIBA) to its line-up of honorary members, in a move aimed at strengthening cross-market collaboration in the pet and equine insurance sector.
PEIA said the step marks further progress in its work to bring together organisations from across the pet and equine insurance ecosystem to support a sustainable future for the market.
BIBA’s involvement is seen as particularly significant because brokers play a central role in distributing pet insurance and helping customers understand what is, and is not, covered by their policies.
BIBA represents thousands of regulated firms and is the UK’s largest trade body for general insurance intermediaries, giving it a prominent voice on regulatory, conduct and market issues that directly affect personal lines brokers.
The UK pet insurance market has grown rapidly in recent years, with record claims costs as veterinary fees continue to rise. Yet penetration remains relatively low, with only a minority of pets insured. That combination of growth, rising claims and sizeable protection gaps has pushed questions of affordability, product value and access to cover higher up the agenda for insurers and intermediaries.
Against this backdrop, PEIA argues that brokers have a pivotal role in explaining product structures, exclusions and price movements to owners facing higher vet bills and sometimes steep premium increases.
Sharon Brown, CEO of the Pet and Equine Insurance Association, said BIBA’s membership strengthens the discussion around how the sector responds to those pressures.
“BIBA joining PEIA as an honorary member is an important development for us and for the wider conversation about the future of pet and equine insurance," she said. “If we want to support fair, trusted and sustainable insurance, we need the right voices around the table from across the full value chain. Brokers bring an important perspective, not only in terms of distribution, but also in understanding customer needs, market challenges and where collaboration can make the greatest difference."
PEIA positions itself as a cross‑sector association bringing together insurers, MGAs, brokers, veterinary professionals and specialist partners to address rising costs, strengthen trust and support better outcomes in real‑world clinical and customer settings.
“PEIA was created to connect the different parts of this market in a practical and constructive way. Partnerships with associations such as BIBA help us share insight more effectively, strengthen collective understanding and support more informed discussions around access to care, consumer trust and long-term sustainability," Brown added.
The move also comes as regulators step up scrutiny of how veterinary services and pet insurance interact.
The Competition and Markets Authority is part‑way through a market investigation into veterinary services for household pets, having raised concerns about transparency, pricing and whether owners have the information they need to make informed choices. Regulators and policymakers have also shown growing interest in how pet insurance supports, or fails to support, access to treatment when costs are rising faster than general inflation.
PEIA has welcomed closer scrutiny of these issues and has argued that any remedies need to reflect how insurance, veterinary practice, welfare and consumer behaviour fit together in practice. Bringing BIBA formally into its honorary membership gives brokers a clearer route into those conversations, particularly where distribution, fair value assessments and product design are concerned.
PEIA said pet and equine insurance should be viewed as part of a wider ecosystem and value chain, spanning insurers, MGAs, brokers, veterinary professionals, data and technology providers, fraud bodies, welfare organisations and other stakeholders.
By working with associations and representative bodies, the association aims to strengthen the sharing of insight, intelligence and data across the sector, improving understanding of emerging issues and supporting better outcomes for consumers, firms and animals.
PEIA’s honorary members now include BIBA, the Insurance Fraud Bureau, the Insurance Fraud Investigators Group, the North American Pet Health Insurance Association, the Pet Industry Federation, the Association of Microchip Database Operators and the International Institute for Canine Ethics.
