Bill > S3327

This bill, the "Pet Insurance Act," aims to create a comprehensive legal framework for the sale of pet insurance in the state of New Jersey. It defines key terms related to pet insurance, such as "chronic condition," "congenital anomaly or disorder," and "preexisting condition." The bill requires pet insurers to disclose various policy details, including coverage exclusions, waiting periods, and claim payment calculations. It also sets limits on pet insurers' use of preexisting condition exclusions and waiting periods, and regulates the marketing of wellness programs alongside pet insurance. The bill also establishes training requirements for insurance producers selling pet insurance and gives the Department of Banking and Insurance the authority to enforce penalties for violations of the act.

Business and Industry

https://www.njleg.state.nj.us/bill-search/2022/S3327