Bill > S0649

This bill provides a comprehensive legal framework for the sale and regulation of pet insurance policies in the state, establishing detailed requirements for insurers to ensure transparency and consumer protection. The legislation defines key terms like preexisting conditions, chronic conditions, and waiting periods, and mandates that pet insurers clearly disclose important policy provisions such as exclusions, coverage limitations, and claim payment methodologies. The bill requires insurers to provide consumers with a detailed "Insurer Disclosure of Important Policy Provisions" document, specify that waiting periods cannot exceed 30 days for illnesses or orthopedic conditions, and prohibit waiting periods for accidents. Additionally, the bill regulates the marketing of wellness programs, ensuring they are not marketed as insurance and are clearly distinguished from insurance products. Insurance producers must undergo specific training about pet insurance products, covering topics like preexisting conditions, policy interactions with different medical conditions, and administrative processes. The bill aims to protect consumers by requiring clear communication about policy terms, preventing misleading sales practices, and ensuring that insurance producers are knowledgeable about the products they sell. The legislation will take effect on January 1, 2026, giving insurers time to adapt to the new regulatory requirements.

Agriculture and Natural Resources

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