This bill amends Florida statutes to formally recognize pet insurance as a type of property insurance, thereby expanding 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 policies, requiring insurers to provide clear definitions of terms, accessible information on their websites, and disclosures regarding exclusions, claim payment determinations, and 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 to return their policies within 30 days for a full refund, with the insurer required to process the refund within 30 days of the return. It sets guidelines for waiting periods on new policies, limiting them to a maximum of 30 days for certain conditions and waiving them for accidents. Insurers are also required to disclose exclusions for preexisting conditions and must train their agents on relevant topics. The bill empowers the commission to adopt necessary rules for its administration, with an effective date of January 1, 2026.

Statutes affected:
S 1226 Filed: 624.604