Allows businesses that had an insurance policy in place for business interruption as of March 9, 2020 to recover from their insurance companies for a COVID-19 business impact.
Allows businesses that had an insurance policy in place for business interruption as of March 9, 2020 or thereafter to recover from their insurance companies for a COVID-19 business impact.
Enacts the "New York small contractor relief act"; defines terms; authorizes a small contractor captive insurance company to purchase, and the New York state insurance fund shall be authorized and directed to provide, reinsurance and retrocession reinsurance for such captive insurance company, on either a quota share arrangement or facultative arrangement at a rate to be determined by the board of the fund; provides that a small contractor captive insurance company organized pursuant to this article shall not refuse to issue, renew or cancel a policy of any qualified small construction contractor based upon geographic location or line of business engaged in by such contractor; makes related provisions.
Requires peer-to-peer car sharing programs provide insurance coverage in amounts equal to the financial responsibility requirements set forth in section three hundred eleven of the vehicle and traffic law; removes requirements relating to requiring additional insurance coverage.
Enacts the "New York small contractor relief act"; defines terms; authorizes a small contractor captive insurance company to purchase, and the New York state insurance fund shall be authorized and directed to provide, reinsurance and retrocession reinsurance for such captive insurance company, on either a quota share arrangement or facultative arrangement at a rate to be determined by the board of the fund; provides that a small contractor captive insurance company organized pursuant to this article shall not refuse to issue, renew or cancel a policy of any qualified small construction contractor based upon geographic location or line of business engaged in by such contractor; makes related provisions.