Skip to content

Bill to Require Insurers Provide Summary of Business Interruption Policies

Bill to Require Insurers Provide Summary of Business Interruption Policies

March 31, 2021

Bill to Require Insurers Provide Summary of Business Interruption Policies

During Covid-19 many business owners with business interruption (BI) insurance have been denied claims to recoup losses caused by pandemic-related closures because BI is typically only triggered when there is physical damage to a property.  Most owners were unaware that their policy had specific virus-related exclusions.  With the goal for insurers to be transparent with policyholders regarding BI coverage, legislation is on the Governor’s desk that will require clear disclosure.  Within 90 days of the bill’s enactment, insurers must provide a summary of common coverage clauses for the loss of use and occupancy of commercial property to the purchasers or policyholders seeking renewal.  This full disclosure will help owners make the best decisions for their businesses.

Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Receive our newsletter and email notification
Knowledge is power. Let us help you stay informed with breaking legislative news, regulatory updates, business tips, and more.

Related Articles

United States Capitol US Capitol Congress Washington DC
July 1, 2025
ICYMI: NFIB Georgia Director On Why Congress Needs to Make the…
Congress is voting on the legislation that includes the measure this week.
Read More
June 30, 2025
What Happened in Phoenix for Arizona Small Business Owners Duri…
A look at the small business victories achieved during the 2025 Arizona Leg…
Read More
June 27, 2025
NFIB New Jersey In The News
Read More
Construction workers working on cement formwork frames
June 24, 2025
NFIB Wisconsin Applauds Passage of Workforce Recruitment Grants
Wisconsin State Budget will contain tax relief for small businesses
Read More

© 2001 - 2025 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy Policy | Accessibility