Assembly Bill A418

2023-2024 Legislative Session

Relates to requiring business interruption insurance to cover disease outbreaks

download bill text pdf

Sponsored By

Current 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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2023-A418 (ACTIVE) - Details

See Senate Version of this Bill:
S18
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Add §346, Ins L
Versions Introduced in Other Legislative Sessions:
2019-2020: A10837, S8853
2021-2022: A498, S847

2023-A418 (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.

2023-A418 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    418
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              January 9, 2023
                                ___________
 
 Introduced  by M. of A. CARROLL -- Multi-Sponsored by -- M. of A. ANDER-
   SON, DINOWITZ, GALLAGHER, RAJKUMAR, SEAWRIGHT, SIMON, THIELE  --  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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00501-01-3
              

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