Protect pet owners from unaffordable insurance premium increases

Background

Introduce rules requiring clear disclosure of long-term premium increases and protections against excessive rises. Ensure customers are not trapped in unaffordable policies when they cannot switch due to age or pre-existing conditions.

Additional details

Pet insurance premiums can increase significantly over time with no clear limit, and this is not always clearly explained at the outset. When pets age or develop medical conditions, owners are often unable to switch insurers due to exclusions for pre-existing conditions. This leaves customers effectively locked into policies with rising and potentially unaffordable costs.