WI SB927

Adopts the National Association of Insurance Commissioners model Pet Insurance Act to regulate pet insurance policies in Wisconsin

Prohibits marketing pet wellness programs as pet insurance and requires clear separation of costs, terms, and coverage between wellness programs and insurance policies

Requires licensed intermediaries selling pet insurance to complete training on preexisting conditions, waiting periods, hereditary disorders, chronic conditions, and underwriting practices

Mandates insurers disclose policy exclusions, waiting periods, deductibles, coinsurance, coverage limits, and claim payment formulas; policyholders receive a 15-day free-look period to return policies for a full refund

Limits waiting periods to 30 days maximum for illness or orthopedic conditions and prohibits waiting periods for accidents; preexisting conditions may be excluded but the insurer bears the burden of proof