Trupanion Comments on Rate Filing Approval in California
SEATTLE, May 17, 2024 (GLOBE NEWSWIRE) -- Trupanion, Inc. (Nasdaq: TRUP) today provided the following update on its rate filing approval status in California.
The California Department of Insurance approved a 29% rate increase, which is in addition to its previously approved 12% rate increase in June of 2023. The new rate will go into effect during late July 2024.
The rising cost of veterinary care amplifies the need for Trupanion to price correctly. Given the financial impact inflation has had on veterinary practices in California since 2022, this new rate will bring California residents more in line with those rising costs. Trupanion is excited to continue to support pet parents and the veterinary community in California.
About Trupanion
Trupanion is the leading provider of medical insurance for over 1,000,000 cats and dogs throughout the United States, Canada, Europe, Puerto Rico and Australia. For over two decades, Trupanion has given pet owners peace of mind so they can focus on their pet's recovery, not financial stress. With its patented process, Trupanion is the only North American provider with the technology to pay veterinarians directly in seconds at the time of checkout. Trupanion is listed on NASDAQ under the symbol "TRUP". The company was founded in 2000 and is headquartered in Seattle, WA. Trupanion policies are issued, in the United States, by its wholly-owned insurance entity American Pet Insurance Company and, in Canada, by Accelerant Insurance Company of Canada. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. For more information, please visit trupanion.com.
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