Bill

Bill > HB647


MD HB647

MD HB647
Property and Casualty Insurance – Pet Insurance – Regulation


summary

Introduced
01/25/2024
In Committee
04/03/2024
Crossed Over
03/18/2024
Passed
04/04/2024
Dead
Signed/Enacted/Adopted
05/16/2024

Introduced Session

2024 Regular Session

Bill Summary

Establishing requirements and prohibitions for pet insurance policies that are issued to a resident of the State or are sold, solicited, negotiated, or offered in the State, including disclosure requirements and requirements and prohibitions related to wellness programs; and requiring the Maryland Insurance Administration, on or before June 1, 2025, to develop informational material about pet insurance policies that may be disseminated to and posted by veterinary practitioners.

AI Summary

This bill establishes requirements and prohibitions for pet insurance policies issued to Maryland residents or sold, solicited, negotiated, or offered in the state. It defines key terms like "preexisting condition," "chronic condition," and "orthopedic condition," and requires pet insurers to disclose policy exclusions, limitations, and claim payment methodologies. The bill also prohibits pet insurers from requiring wellness program participation to purchase a policy, and requires the Maryland Insurance Administration to develop informational material about pet insurance policies for veterinary practitioners. The bill applies to all pet insurance policies issued, delivered, or renewed in Maryland on or after January 1, 2025.

Committee Categories

Budget and Finance, Business and Industry

Sponsors (1)

Last Action

Approved by the Governor - Chapter 740 (on 05/16/2024)

bill text


bill summary

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