Big I NY Opposes Bill To Force Coverage for COVID-19 Business Income Losses
A bill introduced in the New York State Assembly on March 27 would force insurers to cover some business income losses resulting from the COVID-19 pandemic, even if their policies excluded coverage. Big I New York is joining other industry groups in opposing the measure. The bill, A.10226, was introduced by Assem. Robert Carroll (D – Brooklyn). Assem. Carroll announced his intention to introduce the bill in a series of Twitter posts on March 24. Big I NY AVP of Research and Information Tim Dodge posted several replies to the assemblyman's tweets; no counter-replies have been posted. The bill would require business income policies to cover the insured business for losses it sustains if it must shut…