"As vet bills skyrocket, more and more pet owners are turning to insurance programs to prevent their pets' surprise illness from becoming a financial hardship. But the devil is in the details, and complaints have surfaced that procedures and care that consumers thought were covered by the policies they purchased actually weren't covered. A new law taking effect in Florida on Jan. 1 aims to provide pet owners with clarity about pet insurance products they might be considering purchasing to cover accidents and illnesses."
"The law will prohibit marketing of wellness programs as pet insurance, require disclosure of exclusions for chronic conditions, require agents and brokers to undergo special training, and allow consumers to cancel their pet insurance policies within 30 days if dissatisfied. Signed by Gov. Ron DeSantis in April, the law classifies pet insurance as property insurance and specifies that it's not subject to laws that regulate life or health insurance."
A new Florida law effective Jan. 1 creates a regulatory framework for pet insurance to improve consumer clarity and marketplace fairness. The law classifies pet insurance as property insurance and exempts it from life and health insurance statutes, following a 2022 NAIC model adopted by multiple states. The law prohibits marketing wellness programs as pet insurance, mandates disclosure of chronic-condition and other exclusions, requires special training for agents and brokers, and grants consumers a 30-day cancellation window. The measure responds to rising veterinary costs, complex policy exclusions, waiting periods, and consumer complaints about misleading sales practices.
Read at Sun Sentinel
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