Friday, September 27, 2024

CA Gov Newsom Signs Pet Insurance Transparency Bill

"Newsom signs bill requiring pet insurance providers to be more transparent about coverage, premiums"

While I'm not a fan of the overregulation tendencies of California, this bill actually sounds like a good thing. Consumers should have access to some standardized disclosures when making insurance purchases. While I think that pet insurance is a good thing, I don't think the way the companies market their services is fair to the consumer. I have been asked numerous times which company I prefer, and I have to explain there isn't a good way to tell one from another except from reading consumer reviews. The problem with reviews of any company, insurance or restaurants or hotels or whatever, is that they can be manipulated and don't necessarily reflect what you will actually experience. 

Let's watch how this goes. Hopefully it turns out well. California severely damaged property insurers and drove them out of the state. California is a messed up state, we all know that. So, this new law might doom pet insurance or make it better. No way to tell right now. 

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