Business Support as Phase 2 Begins

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As additional regions move toward phase 2 in reopening and additional COVID testing is initiated, Governor Cuomo announced new support for businesses victimized by looters and vandals. Specifically, the Governor also announced: “the State Department of Financial Services will issue an emergency regulation to help businesses and consumers who suffered damage from looting and vandalism by requiring New York State-regulated insurance companies to expedite the resolution and payment of related insurance claims based on similar emergency relief applied in the aftermath of Super Storm Sandy. Additional relief provided by the emergency regulation will include allowing policyholders to make immediate repairs to damaged property if necessary to protect health or safety, and to submit claims with reasonable proof of loss, including photos, so businesses don’t have to wait for police reports to file a claim. The emergency regulation will also offer small businesses and consumers the option to resolve disputes through an impartial mediation process paid for by the applicable insurer.”