Search
Copyright © 2025 ALM Global, LLC. All Rights Reserved.
The amendment’s authorization of excess line brokers to place stand-alone business interruption insurance policies in New York State could help to provide potential insureds with more coverage options. (Credit: Yurii Kibalnik/Adobe Stock)In September, Governor Kathy Hochul approved A.B. 10342, which amended New York State insurance law to authorize, for the first time, stand-alone business interruption insurance policies. Notably, these policies would respond to claims for business interruption loss even in the absence of direct physical loss or damage to property.
The authorization of this new insurance product is a direct response to the effects of the COVID-19 pandemic, during which time government orders requiring the shutdown of non-essential businesses forced countless businesses to close their doors.
Already have an account? Sign In Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
eBook
Sponsored by AgentSync
The Future of P&C Insurance: The Race to Contain Costs Amid Rising Catastrophic Losses
The P&C insurance sector is currently facing challenges. This eBook outlines the most pressing problems, the most promising solutions, and a few examples of these principles in action.
Case Study
Sponsored by CoreLogic
Revolutionizing Claims Processing: How a Leading Insurer Transformed Water Mitigation Reviews
Discover how one insurer drastically improved the efficiency of their water mitigation claim reviews, reducing costs and time while enhancing decision-making. Learn how this approach can transform your claims process, making it faster, more accurate, and less resource-intensive.
Assessment
Sponsored by AgentSync
Distribution Channel Management Assessment
Navigating today’s insurance landscape requires more than instinct. Assess the strengths and gaps in your distribution strategy with this comprehensive tool. Discover actionable insights to refine operations, enhance data quality, ensure compliance, and scale efficiently. Evaluate your current capabilities and see where you stand across five crucial areas. Start building a more resilient and agile network today.
Copyright © 2025 ALM Global, LLC. All Rights Reserved.
Sign In
Sign In
