The bill, HB 655, amends Florida Statutes to formally recognize pet insurance as a type of property insurance, specifically covering accidents and illnesses of pets. It introduces a new section, 627.71545, which establishes a regulatory framework for pet insurance, requiring insurers to provide clear definitions of policy terms and make them accessible online. Key provisions include mandates for insurers to disclose critical information such as exclusions, waiting periods, and claim payment bases to applicants and policyholders. The bill also prohibits unfair practices related to pet wellness programs, ensuring they are marketed separately from pet insurance.

Additionally, the bill outlines specific requirements for pet insurance policies, including a 30-day review period for policyholders to return their policy for a full refund if unsatisfied, provided no claims have been filed. It mandates that policies include a notice detailing the return process and refund eligibility. Insurers are allowed to exclude coverage for preexisting conditions with proper disclosure and can impose waiting periods of up to 30 days, which may be waived under certain circumstances. The bill also requires training for pet insurance agents on relevant topics and ensures that participation in wellness programs does not affect eligibility for pet insurance. The Florida Insurance Commission is empowered to adopt necessary rules for implementation, with the act set to take effect on January 1, 2026.

Statutes affected:
H 655 Filed: 624.604
H 655 er: 624.604