Is Calling Your Pet a "Pet" Insulting?

According to "The Journal of Animal Ethics," calling your pet a "pet" is an insulting term, and can supposedly effect the way they are treated. For more on this story, see the following link:
http://www.herald.ie/world-news/calling-animals-pets-is-insulting-academics-claim-2635516.html

Above is a picture of our cat, Miss Kitty. I asked Miss Kitty if she would be insulted if we called her "our pet." She said no; that settles this issue for me. (Actually, I suspect that Miss Kitty thinks we are her pets)