U.S. insurance regulation is a state-by-state patchwork rather than a federally-managed course of. That means NAIC’s proposal can be influential for states which were less proactive than California, whose legal guidelines offered a mildew. For occasion, Philadelphia-based marketing consultant Chris Arlene pays Embrace Pet Insurance $45 a month to cowl his canine, Chance. When Chance swallowed a stuffed animal last yr, requiring hospitalization, Embrace initially denied the $1,100 claim, citing a “pre-present situation” for eating objects. It is an important growth at a time when the pet insurance coverage market is poised to develop. The committee is making ready for NAIC’s nationwide meeting in April, where regulators from all 50 states will congregate to discuss high-of-mind issues. The committee is getting closer to presenting the “mannequin” pet insurance coverage legislation to those regulators to approve.
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