This constantly sprays inside your home? While the toxicity of it is lower than most other pesticides, IMO, I don't believe that's something you or your pet need continuous exposure to.
What sort of insects are you having problems with? There are threads on here that have suggestions on safer ways to help with this.
pyrethrene is VERY toxic to cats. You should never, ever use any type of flea or tick medication with this in it(it is most commonly used against ticks). It has been known to cause neurological problems in cats, which eventually leads to death unless immediately treated by a veternarian(even then the chance is not too good). I would strongly recommend getting rid of that dispenser and trying to find something that doesn't use pyrethrene.