New Jersey Legislature Considers Bill Requiring Insurers to Pay for Coronavirus-Related Business Interruption Losses Regardless of Policy Terms

In an effort to curb the spread of the Coronavirus (COVID-19), federal, state and local governments are asking people to stay home. New Jersey, for instance, declared a state of emergency on March 9, 2020 and cities and townships have followed suit, imposing restrictions on local gatherings and business hours. Such mandates – and the general effort to flatten the curve – will impact small businesses as fewer people venture out and otherwise limit non-essential activities. In turn, businesses will suffer financial losses, some forced …

The post New Jersey Legislature Considers Bill Requiring Insurers to Pay for Coronavirus-Related Business Interruption Losses Regardless of Policy Terms appeared first on The Insurance & Reinsurance Report.

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