Saturday, June 22, 2019
Categories: Broadstone Equine
Making Sense of Recent Changes to Medical and Surgical Coverages
There are a lot of changes happening in today’s equine insurance market, and a few of those impact horse owners in significant ways, so I thought I would address one specific area – coverages that help reimburse for veterinary expenses.
In the last several years, due in large part to drastically rising claims costs—most significantly related to medical and surgical claims—insurance companies throughout the U.S. have made changes to their coverages, often referred to as Major Medical/Surgical, Veterinary Assistance, and Medical Assistance. These changes range from the easily understood increases in premiums and deductibles, and additions of co-pays and coverage sub-limits, to only allowing these coverages on horses valued at certain amounts, or restricting the limit of coverage based on the horse’s insured value. In the following blog, I’ll try to address these areas in more detail.