Florida lawmakers are weighing Senate Bill 158 (SB 158), which would increase transparency and oversight in the state's pet insurance market while updating continuing education requirements for agents.
The legislation would require pet insurers to provide written disclosures summarizing key policy features, including coverage limits, deductibles, waiting periods, exclusions and rules regarding preexisting conditions, according to a report from BestWire.
Insurers would also need to submit annual reports to the Florida Office of Insurance Regulation (OIR) by March 1, detailing the number of policies issued, renewed or canceled; aggregate premium and claims data; reasons for denials and cancelations; and information on waiting periods, exclusions and wellness programs.
The bill would also mandate that agents selling pet insurance complete two hours of continuing education on the line as part of their biennial compliance requirements. The move follows Florida's adoption earlier this year of a regulatory framework establishing definitions, disclosures, and other rules to support the growing pet insurance market.
Attempts to reach Sen. Shevrin Jones, the bill's sponsor, were unsuccessful, according to the report.
The US pet insurance market has grown rapidly over the past decade. In 2024, the market was valued at $5.11 billion, with projections to reach $6.21 billion in 2025 and $25.21 billion by 2033, reflecting a compound annual growth rate of 19%.
Around seven million pets were insured in North America in 2024, a 12% increase from the previous year, although penetration remains low, with only about 4% of dogs and 1% of cats covered. Rising veterinary costs, increased pet ownership and growing consumer interest in preventive and emergency care have fueled this expansion.
In Florida specifically, the five largest writers of pet insurance in 2024, by direct premiums, were Trupanion Insurance Group (28.55%), Nationwide Property & Casualty Group (20.69%), Munich-American Holding Corp. Cos. (10.47%), Independence Pet Insurance Group (10.02%), and Chubb INA Group (8.42%), according to the report.
Legislative efforts such as SB 158 could accelerate adoption by increasing transparency and consumer confidence, particularly among pet owners concerned about coverage clarity and reliability. Proponents argue that clearer disclosures and enhanced agent education could help pet owners better navigate policy options, potentially boosting uptake in Florida’s growing pet insurance sector.
