Bill Regulating Pet Insurance in Montana Receives Positive Reception

Montana lawmakers are considering House Bill 78, the Adoption of a Pet Insurance Model Act, to strengthen and regulate pet insurance in the state. Discussed in a House Business and Labor Committee hearing, the bill aims to standardize regulations, making policies consistent across states and the pet insurance market more transparent.

State Rep. Greg Overstreet shared personal insights into the financial burden of Veterinary care, emphasizing the potential benefits of pet insurance for families facing costly medical bills for their pets. Proponents argue the bill will improve consumer protections by requiring insurers to clearly disclose coverage details, exclusions, and rules regarding pre-existing conditions. The bill also prevents insurers from adding pre-existing condition exclusions upon policy renewal. Advocates, including representatives from the Independent Insurance Agents of Montana and the Commissioner of Securities and Insurance, highlighted the growing importance of regulating pet insurance as the market expands. No action was taken, and the bill excludes livestock and euthanasia costs.