Trupanion – Pet Insurance Company Fined $100,000

July 4, 2019

The Washington State Office of the Insurance Commissioner which protects insurance consumers and oversees the insurance industry in the state of Washington recently FINED Trupanion Managers USA, Inc. $100,000 for Washington state insurance laws and rules.

Trupanion Managers USA, Inc. is owned by pet insurance company TRUPANION INC.

ACCORDING TO INSURANCE COMMISSIONER MIKE KREIDLER:
Kreidler Found That Trupanion Committed The Following Violations:

  • Gave gifts in excess of $100 to one veterinary clinic from 2016 to 2018 in exchange for referrals. State law limits insurance producers’ gifts to no more than $100 per recipient per year for referrals.
  • Trupanion paid Reviews.com, an unlicensed producer, to market the pet insurance and generate leads on their behalf. Trupanion received 28 completed applications from April 2017 to May 2018. State law prohibits producers from accepting business from unlicensed producers.
  • Contracted with unlicensed and unaffiliated “territory partners” to promote its pet insurance to veterinary clinics, animal shelters and animal stores. From 2015 to 2018, Trupanion paid nearly $245,000 in commissions to five unlicensed territory partners on thousands of pet insurance transactions. State law prohibits producers from paying commissions to unlicensed producers.

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