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have you ever wondered what would happen
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if your pet's insurance suddenly
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imagine the stress and financial burden
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that could bring nationwide Insurance a
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household name for millions is facing a
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legal storm the company's decision to
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cancel around 100,000 pet insurance
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policies has left pet owners in shock
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and sparked outrage across social media
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platforms the lawsuit which could
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potentially evolve into a class action
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case alleges that Nationwide broke
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promises of providing lifelong insurance
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for pets complainants argue that the
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company employed a bait and switch
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tactic dropping coverage just as pets
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aged or developed chronic health issues
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many pet parents are now in a difficult
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situation knowing that most insurers
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won't accept pets with pre-existing
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conditions imagine being told your
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elderly Labrador or diabetic cat will no
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longer be covered it's not just a policy
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change it feels deeply personal
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nationwide however has its reasons the
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company points to rising veterinary
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costs and inflation as the main culprits
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a spokesperson explained that
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maintaining certain plans would have
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jeopardized the financial sustainability
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of their pet insurance line looking at
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Nationwide's financials offers some
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perspective according to their 2024
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annual report they delivered nearly $21
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billion in claims and benefits across
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their broader insurance divisions yet
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profits in the pet insurance segment
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have apparently been squeezed by
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ballooning pet health care costs
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interestingly while Nationwide is
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pulling back competitors like MetLife
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and Progressive are expanding their pet
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insurance offerings this retreat raises
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eyebrows leaving many wondering why
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Nationwide is stepping away when others
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are stepping in the legal and ethical
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debate centers on whether Nationwide has
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to stick with old policies from a legal
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standpoint it depends on how airtight
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the original contracts were did they
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include clear language about the right
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to cancel or modify coverage ethically
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the situation cuts deeper pets aren't
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just property to these families they're
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companions cuddly therapists
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irreplaceable members of the family as
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one dog owner poignantly stated "They're
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not like a car you can replace they're
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my family." The broader pet insurance
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market isn't slowing down with over 4.4
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4 million insured pets in the US as of
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2024 the industry seems like a gold mine
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people are spending more than ever on
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their pets from premium kibble to
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treatments once reserved for humans
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nationwide's pull out from specific
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policies doesn't mean they're abandoning
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pets entirely they're still offering a
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variety of plans but critics argue these
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don't address the needs of older pets or
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those with long-term conditions for now
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pet owners are left feeling betrayed
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angry and more than a little scared some
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are banding together in support groups
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sharing resources and venting
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frustrations others plan to fight
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Nationwide's decision in court the
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outcome of this legal battle could
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change the pet insurance landscape for
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years to come will Nationwide reverse
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course or will they stick to their
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decision arguing financial prudence over
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individual heartbreak only time will
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tell thank you for watching our coverage
3:33
of the nationwide pet insurance lawsuit
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we hope this information has been
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helpful in understanding the complex
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issues surrounding this case
