assembly Bill A1937

2021-2022 Legislative Session

Requires 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 Assembly 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 (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 13, 2021 referred to insurance

Co-Sponsors

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Multi-Sponsors

A1937 (ACTIVE) - Details

See Senate Version of this Bill:
S4711
Current Committee:
Assembly Insurance
Law Section:
Insurance
Versions Introduced in 2019-2020 Legislative Session:
A10226, S8211

A1937 (ACTIVE) - Summary

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

A1937 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1937
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 13, 2021
                                ___________
 
 Introduced  by  M. of A. CARROLL, FAHY, GRIFFIN, EPSTEIN, PHEFFER AMATO,
   DINOWITZ, CUSICK,  BARRETT,  COLTON,  THIELE,  FALL,  FRONTUS,  GLICK,
   ROZIC,  JONES, JACOBSON, NIOU, SIMON, OTIS, WOERNER, SEAWRIGHT, LUPAR-
   DO, L. ROSENTHAL, ANDERSON, EICHENSTEIN, BRONSON, STECK, GALEF, REYES,
   J. RIVERA, TAYLOR, DAVILA -- Multi-Sponsored by --  M.  of  A.  ENGLE-
   BRIGHT,  LAVINE,  McDONOUGH -- read once and referred 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.  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 subsection (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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05440-01-1