Pet insurance became really popular in the past year because everyone got a dog or a cat.

And a lot of those same people were like, oh, yeah, we should get pet insurance as well.

And it is like something good to have if there's a bunch of ifs that go along with that.

But if you ask most people who have a claim, it's really shitty service because everything's

a preexisting condition. It basically functionally operates as American health insurance.

So it's really bad to work with, and it's completely

unregulated. In the United States, different insurances are regulated, like, within the

verticals of the industries they're in. Like, there's auto insurance is all regulated under one

line. But pet insurance is regulated as inland marine insurance. Basically, so when they made insurance, you know,

like a hundred years ago for trucks, pet whale insurance. Yeah, they basically pretended that

the trucks that were driving on the road were just like land boats. And that's how they kind of

regulated it. Admiralty law. Yeah, it's literally admiralty law. And they decided to regulate

pet insurance and travel insurance under that too. So it's people are paying, you know,

barely like 50 bucks a month. So it's it's not cheap, but it's nothing like, you know,

health insurance. And oftentimes they're just not getting their claims paid.

So eventually enough people are going to bitch and moan to where the regulators are going to say,

like, we need to fix this a bit.

So even though they're making a shitload of money off it now and a lot of other companies

are getting in on it, there's going to be a day of reckoning.

But LeMet is also getting into car insurance.

Right.

And they've made a relationship with this Italian company called Octo.

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