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Senate Commerce Committee Statement to Assembly, No. 1203 (March 24, 2025)

Summary

A Senate Commerce Committee statement to the Assembly, No. 1203 [First Reprint], dated March 24, 2025, reporting favorably Assembly Bill No. 1203 (1R). The statement says the bill establishes the "Pet Insurance Act," a legal framework within which pet insurance may be sold in the State, with consumer protections on policy renewals, waiting periods, policy limits, conditions and benefit schedules. It says a pet insurer must disclose whether a policy excludes coverage due to a preexisting condition, a hereditary disorder, a congenital anomaly or disorder, or a chronic condition. It also states that an insurance producer can be licensed to sell pet insurance only if the producer holds an active life, health, personal lines, or property and casualty line of authority.

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Cite this document

“Senate Commerce Committee Statement to Assembly, No. 1203 (March 24, 2025).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2025-03-24-scm-a1203-s2-d60f701a1a/, SHA-256 09c95b6ed1993d39fc011bd5910a29a9e2b81bdab8f5f9a32d611f40b6f9da96.

Full text

     SENATE COMMERCE COMMITTEE

                    STATEMENT TO

                       [First Reprint]
               ASSEMBLY, No. 1203

 STATE OF NEW JERSEY
                     DATED: MARCH 24, 2025

    The Senate Commerce Committee reports favorably Assembly Bill
No. 1203 (1R).
    This bill establishes the “Pet Insurance Act,” which creates a
comprehensive legal framework within which pet insurance may be
sold in the State.
    Under the bill, several consumer protections related to policy
renewals, waiting periods, policy limits, conditions, and benefit
schedules are included, including disclosures a pet insurer transacting
pet insurance must disclose to consumers, such as:
    (1) if the policy excludes coverage due to:
    (a) a preexisting condition;
    (b) a hereditary disorder;
    (c) a congenital anomaly or disorder; or
    (d) a chronic condition; and
    (2) if the policy includes any other exclusions, using the following
statement: “Other exclusions may apply. Please refer to the exclusions
section of the policy for more information.”
    The bill provides limits on how insurers can deny pet insurance
claims related to preexisting conditions of covered pets, and requires
the insurer to prove a preexisting condition limitation applies.
    The bill additionally provides requirements to insurers and
insurance producers to clearly differentiate pet wellness programs
from insurance policies to eliminate consumer confusion between what
services are covered by insurance.
    Finally, the bill provides training requirements for insurance
producers to ensure that producers are appropriately prepared to
present information to consumers. The bill also stipulates that an
insurance producer can only be licensed to sell pet insurance if the
producer holds an active life, health, personal lines, or property and
casualty line of authority.

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