Westchester Fire Insurance Company, part of Chubb, is introducing a pet indemnity insurance program in New Jersey, Rhode Island, and North Carolina. The New Jersey filing was submitted on March 26, 2026 and is currently under review, with new and renewal business targeted for July 1, 2026.

The program takes a different approach from traditional pet insurance by offering fixed benefit payouts tied to specific events rather than reimbursing actual veterinary costs. Covered benefits include hospitalization, major surgery, diagnostic tests, physical therapy, cancer treatment, and end of life services, each with predefined payout limits.

Coverage is structured around a schedule of benefits, with payments triggered per event or per day depending on the service. For example, hospitalization and diagnostic services are paid on a per day basis, while surgery and cancer benefits are tied to specific occurrences, with limits such as one cancer payout per pet’s lifetime.

The product excludes areas typically covered in reimbursement-based plans, including medications, preventive care, dental treatment, and pre-existing conditions. Additional exclusions apply to elective procedures, behavioral treatments, and conditions linked to preventable care gaps.

Eligibility and underwriting are shaped by age and prior care requirements. Pets must undergo a recent clinical examination, with stricter timing requirements for older animals, and certain conditions such as hip dysplasia in older pets are excluded. Working animals and pets used for commercial purposes are also not eligible.

Pricing is built using a modular rating structure, where premiums are calculated based on selected benefit units and adjusted using factors such as pet type, breed, age, gender, and geographic territory. A loss cost multiplier is then applied to derive the final monthly premium.

Overall, the filing signals a push into simplified, benefit-based pet coverage.

Bottom Line: Chubb has been restless since acquiring Healthy Paws, a Chubb company, in 2024 for $300M—rolling out an improved web flow, a benefits channel, partnerships with PetSmart and Airvet, and now a new product in development.