Independence Pet Buys Bigger Stake in Miami-based Spot Pet Insurance

Independence Pet Holdings has acquired a majority interest in Spot Pet Insurance, an expansion of IPH’s 2022 investment in the Miami-headquartered insurer.

Independence, founded in 2021 and helmed by CEO Lane Kent, already handles Spot’s underwriting, customer service, claims and other administrative services, the company said in a news release.

The firm said Spot is a fast-growing brand that offers dog and cat plans in the United States and Canada. Trey Ferro is CEO.

The terms of the deal were not announced. The move comes amid some upheaval in the pet insurance industry. Nationwide Pet said in May that it is dropping about 100,000 policies due to the rising cost of veterinary care and plan availability in some states.