A number of varying factors are taken into consideration when insurers calculate pet insurance premiums, one industry expert has revealed.

Clare Wheatley, risk and underwriting manager at Allianz's Petplan programme, says that individual circumstances are likely to impact on the price of your premiums. For example, if you keep a parrot in your kitchen, you will be hit by higher premiums as "the risk is greater because of their intolerance of Teflon used in cookware".

And even where you live in the country can have an effect on how much you pay.

"We also look at where a pet is located when insuring them," Ms Wheatley explains.

"The cost of setting up and running a vet practice can vary greatly across the UK which is something we need to take into account.

"A vet practice in Northumberland is going to cost less to run (considering overheads such as rent, staff costs, travel) than a practice in Chelsea in London."

A recent report from Datamonitor into the pet insurance industry claimed that it faced an uncertain future as increases in claims costs "continue to force premiums up by around ten per cent per annum".

Mid Sussex Conservative MP Nicholas Soames has been banned from driving for two months for driving a quad bike on a public road without any vehicle insurance.Crawley magistrates' court fined the 60-ye...

Allianz Global Corporate & Specialty (AGCS) has set up a team of broker development and key account managers to strengthen ties with clients in the UK.The broker development team comprises Matt Br...

The insurance industry can respond effectively to the next major claim incident if all the elements work closely together.That is the message from Malcolm Edwards, president of the Chartered Institute...