Assembly Bill A10226B

2019-2020 Legislative Session

Relates to requiring certain perils be covered under business interruption insurance during the coronavirus disease 2019 (COVID-19) pandemic

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Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Actions

Bill Amendments

co-Sponsors

multi-Sponsors

2019-A10226 - Details

See Senate Version of this Bill:
S8211
Current Committee:
Assembly Insurance
Law Section:
Insurance
Versions Introduced in 2021-2022 Legislative Session:
A1937, S4711

2019-A10226 - Summary

Requires certain perils be covered under business interruption insurance during the coronavirus disease 2019 (COVID-19) pandemic.

2019-A10226 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10226
 
                           I N  A S S E M B L Y
 
                              March 27, 2020
                                ___________
 
 Introduced  by M. of A. CARROLL -- read once and referred to the Commit-
   tee on Insurance
 
 AN ACT in relation to requiring certain perils be covered under business
   interruption insurance during the coronavirus disease 2019  (COVID-19)
   pandemic
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. (a) Notwithstanding any provisions of law,  rule  or  regu-
 lation  to the contrary, every policy of insurance insuring against loss
 or damage to property, which includes the loss of use and occupancy  and
 business  interruption,  shall be construed to include among the covered
 perils under that policy, coverage for business  interruption  during  a
 period of a declared state emergency due to the coronavirus disease 2019
 (COVID-19) pandemic.
   (b) The coverage required by this section shall indemnify the insured,
 subject  to  the  limits  under  the policy, for any loss of business or
 business interruption for the duration of a period of a  declared  state
 emergency due to the coronavirus disease 2019 (COVID-19) pandemic.
   (c)  This section shall apply to policies issued to insureds with less
 than 100 eligible employees in force on the effective date of this  act.
 "Eligible  employee"  means a full-time employee who works a normal work
 week of 25 or more hours.
   § 2. (a) An insurer which indemnifies an insured who has filed a claim
 pursuant to section one of this act may apply to the  superintendent  of
 financial  services  for relief and reimbursement by the department from
 funds collected and made available  for  this  purpose  as  provided  in
 section three of this act.
   (b)  The  superintendent  of financial services shall establish proce-
 dures for the submission and qualification of claims by  insurers  which
 are  eligible for reimbursement pursuant to this act. The superintendent
 of financial services shall incorporate in these procedures such  stand-
 ards  as  are  necessary to protect against the submission of fraudulent
 claims by insureds, and appropriate safeguards for insurers to employ in
 the review and payment of such claims.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

co-Sponsors

multi-Sponsors

2019-A10226A - Details

See Senate Version of this Bill:
S8211
Current Committee:
Assembly Insurance
Law Section:
Insurance
Versions Introduced in 2021-2022 Legislative Session:
A1937, S4711

2019-A10226A - Summary

Requires certain perils be covered under business interruption insurance during the coronavirus disease 2019 (COVID-19) pandemic.

2019-A10226A - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                 10226--A
 
                           I N  A S S E M B L Y
 
                              March 27, 2020
                                ___________
 
 Introduced by M. of A. CARROLL, FAHY, GRIFFIN, SIMOTAS, EPSTEIN, LENTOL,
   M. G. MILLER,  PHEFFER AMATO, WRIGHT, DINOWITZ, ORTIZ, THIELE, CUSICK,
   BARRETT, COLTON, MALLIOTAKIS, MAGNARELLI, FALL --  Multi-Sponsored  by
   -- M. of A.  ENGLEBRIGHT -- read once and referred to the Committee on
   Insurance  -- committee discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee

 AN ACT in relation to requiring certain perils be covered under business
   interruption insurance during the coronavirus disease 2019  (COVID-19)
   pandemic
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. (a) Notwithstanding any provisions of law,  rule  or  regu-
 lation  to the contrary, every policy of insurance insuring against loss
 or damage to property, which includes, but is not limited to,  the  loss
 of  use  and  occupancy and business interruption, shall be construed to
 include among the covered perils under that policy, coverage  for  busi-
 ness  interruption  during a period of a declared state emergency due to
 the coronavirus disease 2019 (COVID-19) pandemic.
   (b) Every policy of insurance insuring against loss or damage to prop-
 erty, which includes, but is not limited to, the loss of use  and  occu-
 pancy and business interruption, whose policy expires during a period of
 a  declared  state emergency due to the coronavirus disease 2019 (COVID-
 19) pandemic, shall be subject to an automatic renewal of the policy  at
 the current rate of charge.
   (c)  Any clause or provision of a policy of insurance insuring against
 loss or damage to property, which includes, but is not limited  to,  the
 loss  of  use  and occupancy and business interruption, which allows the
 insurer to deny coverage based on a virus, bacterium, or other  microor-
 ganism  that  causes  disease,  illness, or physical distress or that is
 capable of causing disease illness, or physical distress shall  be  null
 and void; provided, however, the remaining clauses and provisions of the
 contract shall remain in effect for the duration of the contract term.
   (d) The coverage required by this section shall indemnify the insured,
 subject  to  the  limits  under  the policy, for any loss of business or
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

co-Sponsors

multi-Sponsors

2019-A10226B (ACTIVE) - Details

See Senate Version of this Bill:
S8211
Current Committee:
Assembly Insurance
Law Section:
Insurance
Versions Introduced in 2021-2022 Legislative Session:
A1937, S4711

2019-A10226B (ACTIVE) - Summary

Requires certain perils be covered under business interruption insurance during the coronavirus disease 2019 (COVID-19) pandemic.

2019-A10226B (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                 10226--B
 
                           I N  A S S E M B L Y
 
                              March 27, 2020
                                ___________
 
 Introduced by M. of A. CARROLL, FAHY, GRIFFIN, SIMOTAS, EPSTEIN, LENTOL,
   M. G. MILLER,  PHEFFER AMATO, WRIGHT, DINOWITZ, ORTIZ, THIELE, CUSICK,
   BARRETT,  COLTON,  MALLIOTAKIS,  MAGNARELLI,  FALL,  FRONTUS,   GLICK,
   PAULIN,  ROZIC,  JONES, JACOBSON, NIOU, SIMON -- Multi-Sponsored by --
   M. of A. ENGLEBRIGHT, McDONOUGH --  read  once  and  referred  to  the
   Committee  on Insurance -- committee discharged, bill amended, ordered
   reprinted as amended  and  recommitted  to  said  committee  --  again
   reported  from  said  committee  with amendments, ordered reprinted as
   amended and recommitted to said committee
 
 AN ACT in relation to requiring certain perils be covered under business
   interruption insurance during the coronavirus disease 2019  (COVID-19)
   pandemic
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1.  For the purposes of this act:
   (a) "business" shall mean a business registered with the department of
 tax and finance or not-for-profit corporation registered with the Attor-
 ney General's charities bureau.
   (b) "income" shall mean traditional business income as  well  as  not-
 for-profit revenue from donations, sponsorships, and grants.
   (c)  "net  written premiums received" shall mean gross direct premiums
 written, less return premiums thereon and dividends credited or paid  to
 policyholders, as reported on the company's annual financial statement.
   (d) "premium taxes" shall mean payments required under subdivision (d)
 of section 2118 of the insurance law.
   §  2. (a) Notwithstanding any provisions of law, rule or regulation to
 the contrary, every policy of insurance insuring against loss or  damage
 to  property, which includes, but is not limited to, the loss of use and
 occupancy and business interruption, shall be construed to include among
 the covered perils under that policy, coverage for business interruption
 during a period of a declared state emergency  due  to  the  coronavirus
 disease 2019 (COVID-19) pandemic.
   (b) Every policy of insurance insuring against loss or damage to prop-
 erty,  which  includes, but is not limited to, the loss of use and occu-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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