Jurisdiction: United States

New York Mayor de Blasio Issues Emergency Executive Order 100 Imposing Restrictions on Gatherings and Businesses

On March 16th, New York Mayor Bill de Blasio issued Emergency Executive Order No. 100 (the “Order”), ‎imposing restrictions on gatherings ‎and businesses during the COVID-19 State of Emergency. The Order, amongst ‎other things, ordered the temporary closure of ‎all entertainment venues, commercial gyms, and adult congregate ‎centers‎‎. The Order also limits restaurants, bars and cafes to take-out and delivery orders only.‎

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Georgia Commissioner Issues Bulletin Expediting Review Process for Endorsement Forms Relating to Business Interruption Due to COVID-19

On March 17th, John F. King, Georgia’s Insurance Safety Fire Commissioner issued Bulleting 20-EX-3 (the “Bulletin”), stating that the Georgia Department of Insurance will offer expedited review for two new endorsement forms relating to business interruption insurance and COVID-19.

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New Jersey Advances a Bill Providing Business Interruption (BI) Coverage Resulting from COVID-19

The NJ Assembly Homeland Security and State Preparedness Committee (“AHS” or ‎‎“Committee”) met on Monday, March 16, 2020 to consider draft bill A3844 that would require ‎Business Interruption (BI) insurers to provide coverage for economic losses due to the COVID-‎‎19 crisis. Coverage for business or business interruption losses would be required despite a ‎‎“virus” exclusion in the current policies.‎

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New York, Against COVID-19 Backdrop, Issues Circular Letter Expanding Ability for Insurers to Offer “Cancel for Any Reason” (CFAR) Products

On March 6, 2020, the New York Department of Financial Services (“NYDFS”) issued Insurance Circular Letter No. 4 (the “Circular Letter”) addressing the ability for insurance companies to offer “Cancel for Any Reason” or “CFAR” benefits in the state. The Circular Letter clarifies the ability for both insurance companies as well as insurance agents to offer CFAR benefits in New York and, while not directly overruling prior guidance, the Circular Letter substantially expands opportunities for insurance companies to offer CFAR coverage in the state in light of the Novel Coronavirus pandemic.

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What Insurers Should Know: New York Department of Financial Services Issues Guidance and Call for Special Report Related to COVID-19

With the increased uncertainty around how Insurers can and should respond to the Novel Coronavirus (“COVID-19”), the New York State Department of Financial Services (“DFS”) has issued guidance to (i) all DFS Regulated Entities requesting that all such entities have preparedness plans to address the risks posed by COVID-19; and a call for special report to (ii) all authorized Property/Casualty Insurers requesting such insurers to provide policyholders with information and developments surrounding business interruption and related coverage written in New York.

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LL Surplus Lines Series (Entry 22): Illinois Introduces Changes to Surplus Lines Laws Regarding Declinations and Group Policies

On February 14, 2020, Illinois introduced legislation (SB3783) that would make significant ‎changes in the manner certain surplus lines placements are made in Illinois. Illinois would be the ‎latest state to amend their surplus lines laws and improve efficiency in the placement of surplus ‎lines risks.‎

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Illinois Department of Insurance to Require Annual Corporate Governance Reports

Starting June 1, 2020, the Illinois Department of Insurance (the “Department”) will require insurers to submit their corporate governance practices on an annual basis, according to Company Bulletin 2020-01 Corporate Governance Annual Disclosure (CGAD) Filing ( the “Bulletin”) released on February 7th, 2020.

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