NY A00418

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

Requires coverage for businesses with fewer than 250 eligible employees (defined as full-time workers with 25+ hour work weeks) for losses from disease outbreaks, including loss of use, occupancy, and contingent business interruption.

Establishes a reimbursement mechanism where the superintendent can collect additional amounts from all insurers (including excess lines insurers) proportional to their net written premiums to cover disease outbreak claims paid by insurers.

Applies to all business interruption insurance policies issued, renewed, modified, or amended on or after the bill's effective date.