If veterinary costs are up 10%, why are pet insurance companies asking for much bigger price hikes?

More pet insurance companies this year are seeking double-digit premium increases that substantially exceed the rising cost of veterinary services.

The cost of veterinary care has gone up nationally by about 10% in the past year, according to federal government data.

 

https://www.nj.com/news/2023/09/if-veterinary-costs-are-up-10-why-are-pet-insurance-companies-asking-for-much-bigger-price-hikes.html