New Jersey Considering Legislation That Would Authorize Insurers to Provide Policy Riders Covering Global Virus Transmission or Pandemic
By EsqSocial Corporation 07/06/21
The New Jersey Assembly is currently considering legislation that would authorize property insurers offering coverage for loss of use and occupancy and business interruption to provide their insureds a rider covering global virus transmission or pandemic. The bill provides that the Commissioner of Banking and Insurance must review and approve, on an expedited basis, any such rider offered by an insurer. If enacted, the bill would take immediate effect....
By: Locke Lord LLP