Nationwide insurance said it will not be renewing approximately 100,000 pet insurance policies due to rising costs of veterinary care.
“As pet lovers ourselves, we understand the emotions connected to the protection of our family pets. Inflation in the cost of veterinary care and other factors have led to recent underwriting changes and the withdrawal of some products in some states — difficult actions that are necessary to ensure a financially sustainable future for our pet insurance line of business,” Nationwide wrote in a statement on Friday.
The cancellations will not be made on the basis of a pet’s age, breed, or prior claims history, according to the statement. Policyholders will be notified in…
