Tuck sponsors pet insurance bill

Pet insurance has become big business, with $3.5 billion spent on premiums in the U.S. and Canada in 2022. And Rep. Kaylee Tuck wants to make sure those who purchase pet insurance in Florida know exactly what they're paying for and can expect to receive.

Tuck sponsored House Bill 1465 that deals with pet insurance and wellness programs. The bill will require those selling pet insurance in the state to "clearly disclose in a summary description in the pet insurance policy the basis or formula on which the pet insurer determines claim payments."

The bill also requires specified training for those selling pet insurance in the state, agents clearly outlining the difference between pet insurance and pet wellness programs and for policies to clearly specify coverage exclusions due to chronic conditions, preexisting conditions or hereditary disorders, among other topics.

California and Maine were the first two states to have any type of pet insurance laws in the books, with Mississippi following suit last year. Washington's pet insurance bill went into effect Jan. 1.

According to the North American Pet Health Insurance Association, the number of pets in the U.S. with insurance was 4.85 million in 2022. Roughly 80% of the policies written are for dogs, with an average premium of $640 for accident and illness coverage. The average accident and illness premium for cats is $387.

The NAPHIA's annual "State of the Industry Report," said 6.2% of insured pets are from Florida, leaving the Sunshine State trailing just California and New York in the number of pets insured.

The pet insurance industry has grown more than 20% annually over the past four years and is expected to continue similar growth. It's also profitable, with premiums in the U.S. totaling $3.218 billion compared to $1.91 billion paid out in claims in 2022.

In Canada, premiums totaled $374.0 million (Canadian dollar) and payouts were $210.3 million CAD.

The pet insurance bill is one of seven sponsored by Tuck that are making the rounds in Tallahassee. Among the other bills sponsored by Tuck are HB 1051, which deals with the housing of agricultural workers.

The housing bill prohibits a governmental entity from "adopting or enforcing legislation that inhibits the construction of housing for agricultural workers on agricultural land operated as a bona fide farm," and requires new housing on agricultural lands satisfy certain criteria, in addition to other items.