Senate Bill 927 aims to establish regulations for pet insurance in Wisconsin, aligning with the model Pet Insurance Act endorsed by the National Association of Insurance Commissioners. The bill introduces new sections to the statutes, specifically 628.34 (16), 628.349, and 632.105, which define pet insurance and pet wellness programs, outline the requirements for marketing and selling these products, and set forth necessary training for intermediaries involved in pet insurance sales. Key provisions include prohibiting the marketing of pet wellness programs as pet insurance, ensuring that the purchase of a wellness program is not a prerequisite for obtaining pet insurance, and mandating clear disclosures regarding the nature of pet wellness programs.

Additionally, the bill specifies definitions for various terms related to pet insurance, such as chronic conditions, congenital anomalies, hereditary disorders, and preexisting conditions. It requires licensed intermediaries to complete training on these topics and mandates insurers to verify compliance with training requirements. The bill emphasizes the importance of maintaining separate and identifiable costs and terms for pet wellness programs, ensuring that they do not duplicate coverage provided by pet insurance policies. Overall, the legislation seeks to enhance consumer protection and clarity in the pet insurance market.