New York S05324 regulates pet insurance, defining terms and setting disclosure requirements.

New York S05324 amends the insurance law to regulate pet insurance, defining terms such as "pet insurance," "preexisting condition," and "wellness program." It mandates that insurers disclose exclusions and waiting periods, and requires insurers to provide a summary of policy provisions. The bill also prohibits insurers from requiring wellness program purchases for pet insurance eligibility and mandates separate disclosure for wellness programs. Insurers must also provide a 30-day free look period for policy returns.

New York S05324 regulates pet insurance, defining terms and setting disclosure requirements.

New York S05324 amends the insurance law to regulate pet insurance, defining terms such as "pet insurance," "preexisting condition," and "wellness program." It mandates that insurers disclose exclusions and waiting periods, and requires insurers to provide a summary of policy provisions. The bill also prohibits insurers from requiring wellness program purchases for pet insurance eligibility and mandates separate disclosure for wellness programs. Insurers must also provide a 30-day free look period for policy returns.