Independence American Insurance Company has filed for a 16% rate increase for its legacy Pets Best pet insurance program in New Jersey, with changes proposed to take effect on August 15, 2026. The filing was submitted on June 4 and applies only to renewal business because the block is closed to new policies.

According to the filing, both medical and non-medical base rates would increase by 16%. The company indicated that the changes would affect approximately 571 policyholders and generate an estimated $194,231 in additional premium on a book of business representing about $1.21 million in written premium.

The program is administered and marketed by Pets Best and covers policies issued under legacy policy forms. The filing notes that no new policies are being written under the program.

As part of the update, Independence American submitted revised rating manuals that include updated base rates, plan factors, breed factors, age factors, geographic rating factors, and optional coverage calculations for medical, accident-only, cancer-only, wellness, and feline illness plans. Premiums continue to be determined based on factors such as species, breed, age, gender, location, coverage limits, deductibles, reimbursement percentages, and optional benefits.

The filing is currently under review by New Jersey regulators.