Assemblywoman Pamela Hunter, D-Syracuse, is pictured earlier this year Peaches. Hunter’s office participated in the CNY SPCA’s “Ruff Day Out” program in an effort to spur pet adoptions.
Legislation that would have allowed the state to offer pet insurance won’t become law this year.
The state Assembly unanimously approved the bill (A.8276) in May while the state Senate also passed its version (S.7845) unanimously as the Senate’s session was drawing to a close in early June. There was no debate in the Assembly on the bill. The bills were sponsored by Assemblywoman Pamela Hunter, D-Syracuse, and Sen. Neil Breslin, D-Albany.
“This bill seeks to establish a comprehensive regulatory framework for the pet insurance industry in New York State. This act would create uniform definitions, offer better protection to owners, and generally reduce regulatory confusion. Several states, including California and Maine, have already adopted similar legislation,” Breslin and Hunter wrote in their legislative justification.
Pet insurance laws in Maine, Mississippi and Washington follow a model pet insurance law adopted in August 2022 by the National Association of Insurance Commissioners. That model requires insurers make clear disclosures about exclusions; restricts and prohibits waiting periods for certain conditions or circumstances; makes a distinction between wellness plans and insurance; and specifies training for people that want to sell pet insurance.
The Associated Press reported in 2023 that the pet insurance industry had annual premiums of about $2.8 billion in 2021, an increase of more than 30% from 2020, according to the National Association of Insurance Commissioners. About 4 million pets are insured in the U.S. According to the 2023-24 American Pet Products Association’s (APPA) National Pet Owners Survey, 86.9 million, or 66% of, households in the U.S. reported owning a pet, and will spend an estimated $143.6 billion on vet care and products (pet food, treats, supplies, live animals, OTC medicine, vet care, product sales, and other services) in 2023, up from $136.8 billion in actual costs in 2022.
Mississippi Sen. Walt Michel, a Republican, said during legislative deliberation on the Mississippi bill that pet insurance policies mostly cover ailments such as broken bones and cancer. Injuries that are expensive to treat, such as a torn ACL in dogs, might have a one-year waiting period under most policies. The Mississippi bill does not apply to life insurance for pets.
