NY A10342

Defines "business interruption insurance" as coverage against loss of use, occupancy, rents, and profits from business closure due to property loss/damage, acts of violence on premises, or government orders.

Adds business interruption insurance (paragraph 34) to the list of kinds of insurance that excess line brokers may procure from non-authorized insurers in New York.

Includes business interruption insurance as a "basic kind of insurance" under Article 41 of the Insurance Law.

Sets capital and surplus requirements for insurers offering business interruption insurance at $2,000,000 initial surplus and $1,000,000 minimum surplus maintained.

Takes effect 30 days after enactment.