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Trupanion drops amid California objection to rate increase

Jun. 21, 2023 9:38 AM ETTrupanion, Inc. (TRUP)By: Joshua Fineman, SA News Editor3 Comments
Female veterinarian holding a little dog in her arms

NickyLloyd/E+ via Getty Images

Trupanion (NASDAQ:TRUP) fell 18% as California on Tuesday sent an objection letter on the pet insurance company's proposed rate increase.

California is cutting the pending rate increase to 12.6% from the 28% rate that Trupanion (TRUP) requested, according to Stifel

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Comments (3)

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ccp4u profile picture
If you are this dependent upon price increases into this discretionary spending cash crunch...you might not have a profitable business model.
@ccp4u that's right. anyway the fact they're applying for rate increases means there's no profits coming. regulators won't approve rate increases for profit purposes but just to catch up to claims inflation and retain solvency. that's the reason for the lowered rate amount
Problem for them

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