American Pet Insurance Company, which underwrites Pets Best pet health insurance policies, has filed for a 37.6% rate increase in Michigan, affecting approximately 12,246 policyholders and generating an estimated $4.5 million increase in written premium. The filing was submitted on June 8, 2026, with a requested effective date of October 2, 2026.

According to the filing, the proposed changes primarily involve revisions to base rates for the company’s Unexpected Illness and Injuries plans. The insurer cited emerging experience as the reason for the increase and used claims data from January 1, 2025, through December 31, 2025, with development through March 31, 2026, to support the filing. The company also selected a 19.9% loss trend factor in its actuarial analysis.

The filing would increase the Michigan annual base rate for the Unexpected Illness and Injuries plan from $780.71 to $1,074.26, while rates for the Unexpected Injuries Only, EssentialWellness, and BestWellness plans would remain unchanged.