Provides for the issuance of pet insurance that provides coverage for accidents and illnesses of pets.

New York A01433 amends the insurance law to provide for the issuance of pet insurance. It defines pet insurance as a property insurance policy covering accidents and illnesses of pets. The bill mandates that insurers clearly disclose policy exclusions, waiting periods, and benefit schedules. It prohibits insurers from requiring veterinary examinations for policy renewals and mandates a 30-day return period for policyholders to cancel and receive a refund. The bill also requires insurers to provide a summary of policy provisions and to train their producers on pet insurance products.

Provides for the issuance of pet insurance that provides coverage for accidents and illnesses of pets.

New York A01433 amends the insurance law to provide for the issuance of pet insurance. It defines pet insurance as a property insurance policy covering accidents and illnesses of pets. The bill mandates that insurers clearly disclose policy exclusions, waiting periods, and benefit schedules. It prohibits insurers from requiring veterinary examinations for policy renewals and mandates a 30-day return period for policyholders to cancel and receive a refund. The bill also requires insurers to provide a summary of policy provisions and to train their producers on pet insurance products.