Leading Pet Insurance Provider may Increase Premiums 18% by Year-End

April 10, 2023

Updated July 3, 2023:

Trupanion (NASDAQ: TRUP), a leading pet insurance provider, recently disclosed on an earnings call that the pet insurer “expects its premiums to increase by an average of 15% in the first quarter of 2023 year-over-year, rising to 18% by year-end” according to the VIN NEWS SERVICE.

According to the North American Pet Health Insurance Association (NAPHIA), the average annual accident and illness premium in 2021 for dogs was $583.91 and $342.84 for cats.

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  • Why Trupanion Stock Dropped 15.6% This Week (6.23.23)

    • The company announced that its rate increase requests in California and New York were approved by regulators.
    • In California, a 12% rate increase was approved. This is on top of an 8% rate increase last November in the nation’s most populous state.
    • In New York, regulators approved Trupanion’s proposed 18% rate increase. This follows an approved 6% rate increase last November.
    • With these approvals, Trupanion expects to have 19.7% pricing action flowing through its book by the end of August and 21.6% pricing action by the end of September.