California toughens pet insurance rules
News from ConsumerAffairs:

© Andrey Kuzmin – Fotolia California Gov. Jerry Brown has signed legislation adding new consumer protections to pet insurance, giving consumers a 30-day “free look” period, standardized definitions and tougher disclosure requirements.

Under the new law, pet insurers will be required to disclose baseline information regarding their policies such as reimbursement benefits, pre-existing condition limitations, and a clear explanation of limitations of coverage including coinsurance, waiting periods, deductibles, and annual or lifetime policy limits.

Consumers will also gain a 30-day “free look” period in which a pet insurance policy can be returned for a full refund.

“California consumers will now have greater protection when they purchase pet insurance,” said Insurance Commissioner Dave Jones. “In the state with the largest number of insured pets, once again California is leading the way by becoming the first state in the nation to enact a law that adds consumer protections to this rapidly growing line of insurance.”

Jones said the new law directly addresses the majority of the complaints the department hears about pet insurance, and said consumers will now have a better understanding of what they’re getting for their money, including the vital parameters of what constitutes of pre-existing condition. continues on ConsumerAffairs

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