Independence American Insurance Company (IAIC), part of JAB Holding Co., has filed for an 11.69% average rate increase on its Connecticut pet insurance program (“V4”), with a proposed effective date of May 1, 2026 for both new and renewal business. The program covers dogs and cats and reimburses policyholders based on a percentage of billed veterinary charges.

The filing includes several technical updates that reflect the company’s latest actuarial modeling. Changes include revised annual limit, deductible, coinsurance, attained age, gender, and breed factors, along with the introduction of two new elements: tenure factors and a healthy pet discount for claim-free policyholders. The company will also maintain a 10% multi-pet discount, alongside a long list of occupation-based and partner-based discounts.

IAIC used a generalized linear model to evaluate experience across policy years 2019 through 2023. The updated factors are intended to better reflect differences in expected costs by breed, pet age, and benefit design. According to the filing, 16,092 Connecticut policyholders would see changes, with premium impacts ranging from a 14% decrease to a 60% increase based on rating-factor adjustments.

The company is also introducing a Healthy Pet Discount, offering 10% off for pets with no accident or illness claims in the prior 12 months. Additional updates include refreshed wellness endorsement pricing, optional coverage modules (such as dental illness, exam fees, and prescription food), and an extensive breed-factor table that places every recognized dog and cat breed into specific risk groups.

IAIC last updated rates in May 2025, when the program received a 13.1% adjustment. The proposed 2026 filing continues the trend toward more granular, data-driven pricing—reflecting broader pressures in the pet insurance market, where both claim frequency and severity have been on the rise.