AN ACT RELATING TO INSURANCE -- PET INSURANCE ACT

HB 5569 creates a new regulatory framework for pet insurance in the state, directly affecting pet owners who purchase policies and insurers who sell them. The law requires insurers to clearly disclose all exclusions (such as preexisting conditions, hereditary disorders, or chronic illnesses) and key policy terms like waiting periods, deductibles, and coverage limits before sale. It also mandates a 15-day "free look" period during which buyers can return policies for a full refund if unsatisfied, and requires clear explanations of how claim payments are calculated. The bill does not change coverage types but ensures transparency and standardized disclosures to help consumers understand what their policies cover and exclude.