Assembly Bill A10837

2019-2020 Legislative Session

Relates to requiring business interruption insurance to cover disease outbreaks

download bill text pdf

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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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2019-A10837 (ACTIVE) - Details

See Senate Version of this Bill:
S8853
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Add §346, Ins L
Versions Introduced in Other Legislative Sessions:
2021-2022: A498, S847
2023-2024: A418, S18

2019-A10837 (ACTIVE) - Summary

Relates to requiring business interruption insurance to cover disease outbreaks as denying such coverage based on a disease outbreak is against public policy.

2019-A10837 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10837
 
                           I N  A S S E M B L Y
 
                               July 20, 2020
                                ___________
 
 Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Carroll) --
   read once and referred to the Committee on Insurance
 
 AN ACT to amend the insurance law, in  relation  to  requiring  business
   interruption insurance to cover disease outbreaks
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1.  The insurance law is amended by adding a new  section  346
 to read as follows:
   §  346. BUSINESS INTERRUPTION INSURANCE; DISEASE OUTBREAK. (A) FOR THE
 PURPOSES OF THIS SECTION:
   (1) "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.
   (2) "ELIGIBLE EMPLOYEE" SHALL MEAN A FULL-TIME EMPLOYEE  WHO  WORKS  A
 NORMAL WORK WEEK OF TWENTY-FIVE OR MORE HOURS.
   (3)  "INCOME"  SHALL  MEAN TRADITIONAL BUSINESS INCOME AS WELL AS NOT-
 FOR-PROFIT REVENUE FROM DONATIONS, SPONSORSHIPS, AND GRANTS.
   (4) "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.
   (5) "PREMIUM TAXES" SHALL MEAN PAYMENTS REQUIRED UNDER SUBSECTION  (D)
 OF SECTION TWO THOUSAND ONE HUNDRED EIGHTEEN OF THIS CHAPTER.
   (B)  (1)  NOTWITHSTANDING ANY PROVISIONS OF LAW, RULE OR REGULATION TO
 THE CONTRARY, EVERY CLAUSE OR PROVISION OF A POLICY OF INSURANCE  INSUR-
 ING  AGAINST  LOSS  OR  DAMAGE  TO  PROPERTY, WHICH INCLUDES, BUT IS NOT
 LIMITED TO, THE LOSS OF USE AND OCCUPANCY AND BUSINESS INTERRUPTION  AND
 CONTINGENT  BUSINESS  INTERRUPTION,  WHICH  ALLOWS  THE  INSURER TO DENY
 COVERAGE BASED ON A VIRUS, BACTERIUM, OR OTHER MICROORGANISM THAT CAUSES
 DISEASE, ILLNESS, OR PHYSICAL DISTRESS OR THAT  IS  CAPABLE  OF  CAUSING
 DISEASE, ILLNESS, OR PHYSICAL DISTRESS SHALL BE NULL AND VOID AS AGAINST
 PUBLIC  POLICY;  PROVIDED, HOWEVER, THE REMAINING CLAUSES AND PROVISIONS
 OF THE CONTRACT SHALL REMAIN IN EFFECT FOR THE DURATION OF THE  CONTRACT
 TERM.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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