Property and Casualty Insurance – Pet Insurance – Regulation

This Maryland bill establishes a new legal framework to regulate pet insurance policies sold to residents or offered within the state. It requires insurance companies to clearly disclose specific details to consumers, such as exclusions for preexisting, hereditary, congenital, or chronic conditions, as well as information about waiting periods, deductibles, and how claims are calculated. The legislation also mandates that policies include a ten-day cancellation window where premiums are refunded if no claims have been made, and it directs the Maryland Insurance Administration to create informational materials for veterinarians to help them explain these policies to pet owners.