This bill amends the Louisiana Revised Statutes to create a regulatory framework for pet insurance, changing the heading of Subpart G of Part IV of Chapter 4 of Title 22 from "Crop and Livestock Insurance" to "Pet Insurance." It introduces new sections R.S. 22:1371 through 1375, which define key terms related to pet insurance, such as "chronic condition," "preexisting condition," and "wellness program." The legislation mandates that pet insurers provide consumers with clear disclosures regarding exclusions, waiting periods, and claim payment methodologies. It also sets conditions for policy issuance, allowing insurers to exclude coverage for preexisting conditions and impose waiting periods, while prohibiting the marketing of wellness programs as part of pet insurance.

Additionally, the bill establishes new licensing and training requirements for pet insurance producers, ensuring they are knowledgeable about critical topics such as preexisting conditions and the distinction between pet insurance and wellness programs. The training from other states that is substantially similar will be recognized, promoting consistency across jurisdictions. The bill enhances transparency by requiring the department to provide its contact information and clarifies that wellness benefits in pet insurance contracts are considered insurance. The effective date for these changes is January 1, 2024.