COVID-19 Insurance Coverage

State Statutory Pandemic-Related Insurance Relief Efforts. Recent proposed state legislation creates new possibilities of recovery for property insurance policyholders suffering business interruption losses arising out of COVID-19 and shelter-in-place orders.  This client alert authored by Jeremy King entitled "State Statutory Pandemic-Related Insurance Relief Efforts" highlights a new approach proposed in Pennsylvania to eliminate insurance coverage disputes and protect policyholders against losses resulting from the pandemic.

COVID-19: Quarantine-Caused Vacancy Could Jeopardize Your Property Insurance Coverage. Every landlord carries property insurance protecting against damage sustained by real property.  But current stay-at-home orders may permit insurers to disclaim coverage by relying on typical exclusions for vacant property.  This client alert authored by Jeremy King entitled "COVID-19: Quarantine-Caused Vacancy Could Jeopardize Your Property Insurance Coverage" identifies a potential pitfall in coverage contained in almost all property insurance forms and suggests that landlords act now to make sure that stay-at-home orders do not result in limitations on coverage available for future losses. 

COVID 19 Pandemic Relief — Small Business Insurance Update. Some insurance relief for small businesses may be in sight for New York policyholders impacted by governmental restrictions imposed in response COVID-19. The New York Legislature along with other state legislatures has begun taking steps to provide some relief to policyholders suffering business interruption losses. This client alert authored by Jeremy King entitled "COVID 19 Pandemic Relief — Small Business Insurance Update" addresses the proposed legislation. .

COVID-19, Business Losses and Risk Mitigation - Is Your Business Interruption Insurance Sufficient: Read our client alert entitled "COVID-19, Business Losses and Risk Mitigation - Is Your Business Interruption Insurance Sufficient?" authored by Jeremy King which summarizes general business interruption and contingent business interruption insurance and suggests alternative paths to mitigate business risk. 

Additional NY Small Business Insurance Relief - updated March 30. New York has stepped forward as one of the states acting quickly to protect the interests of small business owners suffering losses because of the COVID-19 pandemic. Previously, Olshan alerted clients to the efforts being made in the New York State Assembly to pass a bill providing significant insurance relief to small business. Now the New York State Department of Financial Services has taken additional steps to afford small businesses another measure of relief.

On March 30, 2020, the Superintendent of Financial Services issued regulations allowing certain policyholders to delay premium payments if they are suffering financial hardship due to COVID-19.  Other new regulations prohibit certain insurance cancellations and non-renewals during the duration of Executive Order 202.13, which addresses suspension and modification of law in New York during the state of emergency.  The new regulations also create a grace period with respect to the timely payment of premiums on certain life insurance products.

COVID‑19 Pandemic Relief — Small Business Insurance Update. Some insurance relief for small businesses may be in sight for New York policyholders impacted by governmental restrictions imposed in response COVID-19. The New York Legislature along with other state legislatures has begun taking steps to provide some relief to policyholders suffering business interruption losses. This client alert authored by Jeremy King entitled "COVID‑19 Pandemic Relief — Small Business Insurance Update" addresses the proposed legislation.

COVID-19: Quarantine-Caused Vacancy Could Jeopardize Your Property Insurance Coverage. Every landlord carries property insurance protecting against damage sustained by real property.  But current stay-at-home orders may permit insurers to disclaim coverage by relying on typical exclusions for vacant property. This client alert authored by Jeremy King entitled "COVID-19: Quarantine-Caused Vacancy Could Jeopardize Your Property Insurance Coverage" identifies a potential pitfall in coverage contained in almost all property insurance forms and suggests that landlords act now to make sure that stay-at-home orders do not result in limitations on coverage available for future losses.