New bill would regulate pet insurance statewide

STATEWIDE — A NEW BILL awaiting Governor Hochul's signature is set to regulate pet insurance policies across the state, reports Spectrum News. sponsored by state Assemblymember Pamela Hunter of Syracuse, the bill would establish industry standards for things like preexisting conditions, carrier disclosures and insurance company staff training. Currently, only 7% of New York pets carry insurance, which is used to cover vet expenses. Pet ownership rates increased sharply during the pandemic, while care costs have soared, making insurance increasingly attractive to pet owners.

"(We) wanted to make sure that there are consumer protections relative to this insurance, not anything dissimilar to what you would get for maybe car insurance or homeowners insurance, that there needed to be some consistency across the board relative to pet insurance," Hunter told Spectrum.

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