New Jersey Publishes Business Interruption Coverage Summary

New Jersey Publishes Business Interruption Coverage Summary

 

On August 16th, 2021, the New Jersey Department of Banking and Insurance published a summary related to business interruption coverage (“Summary”). As required by enacted legislation NJ A4805, insurers are required to provide the Summary to any potential purchaser of, or any policyholder seeking renewal of, a policy that provides coverage for the loss of use and occupancy of a commercial property and business interruption. Insurers are required to use this Summary without deviation. The document must be provided to all applicable policyholders and potential purchasers by November 14, 2021.

 

Link to Summary

Link to NJ A4805