No. HB 983
Filed under Insurance.
Pet Insurance; Requires licensees who sell pet insurance to complete specified continuing education; revises requirements for disclosures from pet insurer to policyholder; requires pet insurers to file annually specified report with OIR.
Plain English Summary
AI-GENERATEDAgents licensed to sell pet insurance must now complete 2 hours of pet-insurance-specific continuing education every two years, as part of their existing license renewal requirement.
Pet insurers must give policyholders a new plain-language summary of key policy terms: coverage limits, deductibles, waiting periods, exclusions, preexisting-condition rules, and wellness-benefit status.
Insurers must also file a detailed annual report with the state each March 1, covering policies issued, premiums and claims data, and the reason behind every denied or rescinded claim.
That same annual report must also cover waiting periods, coverage exclusions, and whether a wellness program was offered on each policy.
AIA licensee who sells pet insurance must complete 2 hours of continuing education on pet insurance specifically, each biennial compliance period, as part of the education already required to keep their license.
AIPet insurers must give policyholders a new disclosure item: a plain-language summary, on a form the commission adopts by rule, covering coverage limits, deductibles, waiting periods, exclusions, preexisting-condition rules, and whether wellness benefits are included.
AIEvery pet insurer must file a report with the office each March 1 covering policies issued, renewed, and canceled; aggregate premium and claims data; denial and rescission data with reasons; and information on waiting periods, exclusions, and wellness offerings.