Business interruption insurance

Over the past two months, numerous state legislatures introduced bills targeted toward voiding the virus exclusion included in most business interruption insurance provisions in commercial property policies.  None of the bills have made significant advances, likely due to a combination of lobbying efforts by the insurance industry and the constitutional challenge to any law that

Since COVID-19 swept through the country, numerous articles have commented on the lack of business interruption insurance in commercial property policies based on two key standard policy provisions – (i) the loss of net income caused by “direct physical loss of insured property” and (ii) the Virus Exclusion.  As a general rule of interpretation,

In our most recent post, we addressed the New Jersey Legislature’s attempt to override terms and exclusions embodied in virtually all commercial Business Interruption Insurance policies including the “virus” exclusion and the requirement that the damage be attributable to a “direct physical loss of insured property.”  That bill, A3844 was passed by the State Assembly’s