NY S08853

Voids any insurance policy clause that denies business interruption coverage based on viruses, bacteria, or disease-causing microorganisms, declaring such exclusions against public policy.

Requires coverage for businesses with fewer than 250 eligible employees (defined as full-time workers with 25+ hour work weeks) for loss of business or business interruption caused by disease outbreaks.

Allows insurers to apply to the superintendent for reimbursement from a state fund for disease outbreak-related claims paid to policyholders.

Authorizes the superintendent to collect additional amounts from insurance companies proportional to their net written premiums to fund reimbursements to insurers under this provision.

Takes effect immediately and applies to all business interruption insurance policies issued, renewed, or modified on or after the effective date.