Big I NY Pushes Back Against Misguided Business Interruption Coverage Bills
The Issue: The issue of the applicability of business interruption coverage has become one of the most hotly discussed insurance issues related to the COVID-19 pandemic. It is well-established that for virtually every commercial business interruption policy, there is no coverage for losses related to COVID-19. In response, both Congress and the New York State Legislature are currently considering legislation that would retroactively require insurers to cover losses related to COVID-19. We believe these proposals are misguided and would have catastrophic consequences. On the Federal level, Rep. Brian Fitzpatrick (R, Pennsylvania) has sponsored the “Never Again Small Business Protection Act" that would require every commercial…