Trupanion Comments on Rate Filing Approval in California
May 17 2024 - 9:00AM
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.
Contacts:
Investor Relations
Investor.Relations@trupanion.com
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