MET - MetLife introduces new pet insurance; Trupanion stock dips

NickyLloyd/E+ via Getty Images MetLife ([[MET]] -0.2%) launches a new pet insurance offering for cats and dogs, increasing competition to cover the estimated ~12M households that brought a new pet home during the pandemic. Shares of Trupanion (TRUP), whose primary business is providing medical insurance for cats and dogs, fall 1.2%. The MetLife insurance offers benefits such as access to telehealth concierge services, option to roll over benefits from the prior year, family plans, no wait periods for orthopedic conditions, and grief counseling. It's also available as an employee benefit at discounted rates, where employees who already have pet insurance with another insurance carrier will be able to switch to MetLife. Last August, Progressive partnered with Pets Best to provide pet insurance to U.S. companies seeking to add coverage as a voluntary employee benefit.

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MetLife introduces new pet insurance; Trupanion stock dips