Nationwide to End 100,000 Pet Insurance Plans Amid Inflationary Pressure

Insurance firm Nationwide will end a sizable portion of its pet insurance policies, citing inflation and the product’s financial stability. Nationwide will not renew roughly 100,000 of these policies between this spring and the summer of 2025, according to a June 14 press release. “These measures, being taken at a state level, comply with the law and our contracts, and are not associated with the pet’s age, breed, or prior claims history,” the statement reads. Nationwide blamed rising veterinary care costs due to inflationary pressure and other factors for the decision. Some pet insurance products have been withdrawn from certain states. These are “difficult actions that are necessary to ensure a financially sustainable future for our pet insurance line of business,” the company states....