|Posted:||March 19, 2020 02:46 PM|
|From:||Senator Vincent J. Hughes|
|To:||All Senate members|
|Subject:||Temporary change for Business Interruption Insurance during the COVID-19 pandemic|
|In the near future I plan on introducing legislation to address the concerns around business interruption insurance during the COVID-19 pandemic.
As the realities of the COVID-19 pandemic set in, it has come to my attention that a provision included in many business insurance policies prohibit payments on claims if a loss is to do an outbreak during a public health emergency.
This provision has potential to harm businesses which are already facing uncertain times.
My legislation, which is modeled off of legislation currently moving through the legislative process in New Jersey, would temporarily override these provisions in business interruption insurance and allow businesses with this insurance to submit claims for the loss of use during the COVID-19 pandemic.
Please join me in sponsoring this legislation to help businesses throughout the Commonwealth.
Introduced as SB1114