Lincoln Sen. Beau Ballard, sponsor of LB296, said animal insurance coverage is among the fastest growing locations of the insurance coverage market.
“The provisions of LB296 will provide needed protections for Nebraskans interested in purchasing pet insurance so they can make informed decisions about what’s right for their family and pet,” Ballard said.
The costs is based upon design legislation backed by the National Association of Insurance Commissioners, he said, and is the outcome of more than 2 years of settlements amongst stakeholders.
Among other arrangements, the costs would need pet insurance providers to offer disclosures concerning waiting durations, claim schedules and exemptions for preexisting conditions. It likewise would need training for representatives who offer animal insurance coverage.
LB296 would work Jan. 1, 2024, and offenses of the costs’s arrangements would be thought about an unjust trade practice.
Senators voted 32-0 to advance the costs to choose file.