Bill > SB1026

This bill establishes a comprehensive regulatory framework for pet insurance in Hawaii, drawing from the National Association of Insurance Commissioners' Pet Insurance Model Act. The bill defines key terms such as "preexisting condition," "chronic condition," and "hereditary disorder," and requires pet insurers to provide clear disclosures to consumers about policy details, including exclusions, waiting periods, and claim payment methods. It mandates that insurers transparently communicate policy limitations, such as coverage for specific conditions like orthopedic issues or genetic disorders, and provides consumers with a 15-day "free look" period to review and return a policy for a full refund. The bill also establishes rules for wellness programs, ensuring they are not marketed as insurance and are kept separate from insurance policies, and requires insurance producers to undergo specific training about pet insurance products. Additionally, the bill sets guidelines for how insurers can handle preexisting conditions, waiting periods, and policy renewals, with the aim of creating a more transparent and consumer-friendly pet insurance market. The legislation will take effect on July 1, 2025, and applies to pet insurance policies sold, solicited, or delivered in Hawaii.

Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1026&year=2026