American Pet Insurance Company has filed for a 14% rate increase in Rhode Island for its Pets Best pet health insurance program, with changes proposed for both new and renewing business effective December 2, 2026.

The filing would affect 3,342 policyholders and generate an estimated $594,540 in additional written premium. Written premium in the state currently stands at approximately $4.25 million.

The proposed increase follows a 27.9% rate hike that took effect on June 2, 2026, and comes after a series of earlier increases, including 13.7% in September 2025, 11.8% in March 2025, and 43% in January 2024. Cumulatively, rates have increased nearly 156% since early 2023.

According to the actuarial memorandum, the filing is driven by worsening claims experience. Paid losses per pet per month increased to $43.57 for the twelve months ended December 31, 2025, up from $30.83 a year earlier, while the company selected an annual loss trend assumption of 22.5%. The indicated rate change was 28%, but the company is seeking a smaller, credibility-weighted increase of 14%.

The filing also updates the program’s base rates. Rhode Island’s annual base rate would increase from $915.53 to $1,043.70, resulting in an illustrative aggregate annual premium increase from $1,270.75 to $1,448.65, or 14%.