This bill amends Florida statutes to officially recognize pet insurance as a form of property insurance, revising the definition in section 624.604 to include coverage for accidents and illnesses. It also introduces regulations in section 626.9541 that classify certain sales practices related to pet wellness programs as unfair competition. Notably, pet insurance agents are prohibited from marketing wellness programs as insurance, and there must be a clear distinction between the costs and terms of wellness programs and pet insurance policies.

Additionally, the bill establishes the Pet Insurance Act in section 627.71545, which creates a regulatory framework for pet insurance in Florida. It mandates that insurers provide clear definitions of policy terms, disclose essential information to applicants and policyholders, and ensure agents receive adequate training. The legislation includes provisions for a 30-day review period allowing policyholders to return their policies without reason, with full premium refunds issued within 30 days. It also addresses preexisting conditions and waiting periods, allowing exclusions for preexisting conditions and a maximum 30-day waiting period for certain illnesses, while ensuring no waiting period for accidents. The act is set to take effect on January 1, 2026.

Statutes affected:
S 1226 Filed: 624.604