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 aEUR" and the general effort to flatten the curve aEUR" 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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