On Apr. 4, MD LEG passed bill on regulation of pet insurance industry.
MD LEG passed bill HB 647 regarding the requirements for pet insurance policies.
Adds new sections to the insurance code: MD INS 19-1101 through MD INS 19-1109.
Bill Provisions
Establishes requirements and prohibitions for pet insurance policies issued in Maryland.
Includes disclosure requirements and requirements/prohibitions for wellness programs.
Requires the development of informational material about pet insurance policies to be disseminated to and posted by veterinary practitioners on or before Jun. 1, 2025.
Legislative History
On Jan. 25, 2024, bill was introduced in House; on Mar. 18, 2024, bill passed House.
On Mar. 18, 2024, bill was introduced in Senate; on Apr. 4, 2024, bill passed Senate.
On Apr. 4, 2024, bill returned to House, is pending delivery to governor for action.
Effectiveness
If enacted, bill HB 647 will become effective on Jan. 1, 2025.
May 2024 MD LEG Governor Approval
On May 16, 2024, MD LEG reported governor approved bill, assigned Chapter 740.
In Nov. 2024, MD INS issued bulletin on requirements under HB 647, see #233034.
Regulators
MD LEG
Entity Types
Corp; Ins
Reference
Ch 740, 5/16/2024; HB0647, 4/4/2024; Citation: MD INS 19;
