The bill amends Florida statutes to classify pet insurance as a form of property insurance, thereby broadening the definition of property insurance to include coverage for pet accidents and illnesses. It introduces the Pet Insurance Act, which establishes a regulatory framework for pet insurance sales in the state. Key provisions require pet insurers to provide clear definitions of policy terms on their websites and disclose critical information regarding exclusions, claim payment determinations, and any necessary medical examinations. The bill also prohibits unfair practices related to pet wellness programs, ensuring they are marketed separately from pet insurance.

Additionally, the legislation enhances consumer rights by allowing policyholders a 30-day period to review and return their policies for a full refund, with the insurer required to process the refund within 30 days. It permits exclusions for preexisting conditions, provided that insurers disclose this information and prove such exclusions. The bill sets guidelines for waiting periods, limiting them to a maximum of 30 days for illnesses and orthopedic conditions, while prohibiting them for accidents. It also mandates training for insurance agents on relevant topics and grants the commission authority to adopt necessary administrative rules, with the act scheduled to take effect on January 1, 2026.

Statutes affected:
S 1226 Filed: 624.604