Sec. 6. Preemption and nullification of pre-existing exclusions
257 words·~1 min read·
/bill/116/hr/6983/ih/section-6·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any exclusion in a contract of a participating insurer for business interruption insurance that is in force on the date of enactment of this Act shall be void to the extent that it excludes losses that would otherwise be insured losses under the Program. Any State approval of any exclusion from a contract of a participating insurer for business interruption insurance that is in force on the date of enactment of this Act, shall be void to the extent that it excludes losses that would otherwise be insured losses under the Program. Notwithstanding subsections
(a)and
(b)or any provision of State law, a participating insurer may reinstate a preexisting provision in a contract for business interruption insurance that is in force on the date of enactment of this Act and that excludes coverage for loss resulting from a covered public health emergency only— if the participating insurer has received a written statement from the insured that affirmatively authorizes such reinstatement; or for contracts in effect for less than 5 months— the insured fails to pay any increased premium charged by the participating insurer for providing such coverage for covered public health emergencies, but only if such premium does not increase by more than 15 percent; and the participating insurer provided notice, at least 30 days before any such reinstatement, of— the increased premium for such covered public health emergency coverage; and the rights of the insured with respect to such coverage, including any date upon which the exclusion would be reinstated if no payment is received.