Forget about Obamacare adoption; pet insurance is quickly growing.
More and more companies are offering pet insurance as a perk to employees, with one in three Fortune 500 companies providing coverage.
Wal-Mart introduced store-branded pet insurance plans at select Canadian stores last year, marking their entry into an industry with an average growth rate of 13 percent a year, according to the North American Pet Health Insurance Association. Wal-Mart is following in the footsteps of outdoor-gear retailer Cabela's, which introduced pet insurance in 2011.
There's still plenty of room to grow: Less than 1 percent of America's 160 million cats and dogs are insured. Of the $55 billion that Americans spent last year on pets, $14.4 billion went to veterinary care.