Authorized Property and Business Interruption Insurers of Commercial Property in New Jersey to Include Statements That Policy May Not Cover Pandemics or Viruses
By EsqSocial Corporation 24/05/21
On May 12, 2021, the Governor of New Jersey signed into law a bill that will require authorized insurers that provide property and business interruption insurance for commercial property in New Jersey to provide a summary to policyholders and applicants that includes a statement that the policy may not cover pandemics or viruses, once the New Jersey Department of Banking and Insurance (the “Department”) has developed a summary for such authorized insurers to use....
By: Saul Ewing Arnstein & Lehr LLP