Sacramento -- Proposed California legislation to regulate pet insurance just isn't necessary, says California Governor Arnold Schwarzenegger.
In fact, he summarily vetoed California's AB 2411 calling for better consumer disclosure of pet insurance, especially as it relates to benefit schedules, policy exclusions of pre-existing conditions and other provisions that might limit coverage.
"This bill would provide for the regulation of pet insurance by the Department of Insurance and require various disclosures from pet insurers," Schwarzenegger says. "Existing law provides for the regulation of various types of insurance, by the Department of Insurance, including pet insurance, if there is a demonstrated need. As such, this bill is not necessary. For this reason I am unable to sign this bill."