So what steps have they taken to ensure that their offer of insurance meets the same standards as other insurance? Are they telling potential insureds that they are being given a bigger computational burden in ascertaining e.g. counter-party risk than is allowed to consumers in even the most trivial kinds of insurance?
http://eternal-earthbound-pets.com/Home_Page.html You'd be better off seeing what they say to their potential customers than having me paraphrase it.
Whether you think this insurance should be regulated or not seems a side-issue to whether you think it is immoral to offer it or not. Why needlessly complicate the issue? If it was regulated would you then think it was moral?
http://eternal-earthbound-pets.com/Home_Page.html
Providing assurance that pets will be provided for in the event of Rapture.
Having thought it over, I'm OK with the ethics of this service.