The Montana Pet Insurance Act aims to establish a comprehensive legal framework for the sale and regulation of pet insurance within the state. The bill outlines specific definitions related to pet insurance, including terms such as "chronic condition," "preexisting condition," and "wellness program." It mandates that pet insurers provide clear disclosures to consumers regarding policy exclusions, coverage limitations, and the basis for claim payments. Additionally, the Act stipulates that waiting periods for coverage cannot exceed 30 days for certain conditions and prohibits waiting periods for accidents. Insurers are also required to ensure that their sales practices for wellness programs are distinct from pet insurance policies.

Furthermore, the Act introduces training requirements for insurance producers selling pet insurance, ensuring they are knowledgeable about relevant topics such as preexisting conditions and the differences between pet insurance and wellness programs. The bill grants the commissioner the authority to adopt rules for implementation and establishes penalties for violations of its provisions. Overall, the Montana Pet Insurance Act seeks to enhance consumer protection and transparency in the pet insurance market while promoting responsible practices among insurers and producers.