senate Bill S8211A

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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Sponsored By

Current Bill Status - In Senate Committee Insurance Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (3)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 01, 2020 print number 8211a
May 01, 2020 amend and recommit to insurance
Apr 17, 2020 referred to insurance

Co-Sponsors

view additional co-sponsors

S8211 - Details

See Assembly Version of this Bill:
A10226
Current Committee:
Senate Insurance
Law Section:
Insurance

S8211 - Summary

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

S8211 - Sponsor Memo

S8211 - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8211

                            I N  S E N A T E

                             April 17, 2020
                               ___________

Introduced  by Sens. GOUNARDES, MAYER -- read twice and ordered printed,
  and when printed to be committed to the Committee 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, 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
business interruption for the duration of a period of a  declared  state
emergency due to the coronavirus disease 2019 (COVID-19) pandemic.
  (e)  This section shall apply to policies issued to insureds with less
than 250 eligible employees in force on the effective date of this  act.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

Co-Sponsors

view additional co-sponsors

S8211A (ACTIVE) - Details

See Assembly Version of this Bill:
A10226
Current Committee:
Senate Insurance
Law Section:
Insurance

S8211A (ACTIVE) - Summary

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

S8211A (ACTIVE) - Sponsor Memo

S8211A (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 8211--A

                            I N  S E N A T E

                             April 17, 2020
                               ___________

Introduced  by  Sens.  GOUNARDES,  MAYER, KAPLAN, KENNEDY, MAY, PERSAUD,
  SEPULVEDA -- read twice and ordered printed, and when  printed  to  be
  committed  to the Committee on Insurance -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

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-
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.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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