During the COVID19 pandemic, business interruption has become a hot topic. In March, a restaurant in Louisiana is the first to file a lawsuit to seek declaration of coverage specific to Coronavirus causes losses under a business owners policy and its respective business interruption. In recent weeks we have seen several states introduce registration that urge insurers to extend coverage to cover business interruption losses during local and national government mandated shutdowns to reduce the spread. Below are additional resources to aid in your research and general knowledge on current events.
- As of this post, these are the states and their proposal statue codes:
- New York, AB 10226, Status: Pending
- New Jersey, AB 3844, Status: Pending
- Louisiana, SB 477, Status: Pending
- Massachusetts, SD 2888, Status: Pending
- Ohio, HB 581, Status: Pending
- Pennsylvania, HB 2372, Status: Pending
- Rhode Island, COVID-19 Pandemic Insurance Recovery Act, Status: Pending
Additional updates information including updates to business interruption coverage can be located on The National Law Review, by clicking here.
Additional information and updates specific to all enacted, adopted and pending state actions on Coronavirus can be found here on National Conference of State Legislatures.