Answer :
After Edna Benton's shetland collie, Priscilla, died from heart and lung problems, she decided to start the Pet Insurance Company of America (P.I.C.A.).
Benton reasoned that given the billions of dollars spent annually on pets in the United States, some of those owners could be interested in purchasing insurance to protect their investments in the event of a serious illness or accident. Standard insurance from P.I.C.A. are underwritten by Dallas's Black Hawk Data Group and has a $300 deductible for $49.
The deductible is reduced from $100 to $90 annually. Policies cover catastrophic illness and/or accidents but not regular checkups, doctor's visits, immunizations, or spaying/neutering. P.I.C.A. policies are only marketed through veterinarians' offices and are limited to coverage for canines and felines at this time.
With over 70,000 policies sold thus far, P.I.C.A. has provided $3,000,000 in coverage for an estimated 100,000 canines and felids. Only two other companies provide little threat, and the market is growing at a rate of 20-30% annually. P.I.C.A. has licenses in 47 states and plans to expand beyond dog and cat insurance within the next year.
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