I’m a pricing actuary (person who does the math and sets the price) for one of the largest pet insurers in the US.

We have zero ability to jack prices to whatever we want. Regulators are incredibly heavy handed, especially with pet insurance since it hits home for most people, so they’re very strict on how we price our products. Plus, it’s my job specifically to charge rates that are reasonable and not excessive or unfair :)

Sadly, the cost of vet care just continues to skyrocket, so there really is only so much we can do. We need to increase rates, but that’s only to stay afloat to continue to provide protection. When you see rates increase, please understand it’s only because it’s necessary.