Establishes New Jersey Pandemic Risk Reinsurance Program for eligible insurers offering business interruption insurance.

This bill establishes the New Jersey Pandemic Risk Reinsurance Program and the New Jersey Pandemic Risk Reinsurance Fund. The program provides coverage for eligible insurers when claims payable from a covered public health emergency exceed $75 million statewide. The fund consists of an annual appropriation of at least $50 million from the state's General Fund and at least $50 million from federal assistance. Participating insurers must offer a rider to policies for businesses with up to 100 employees, covering global virus transmission or pandemic.

Establishes New Jersey Pandemic Risk Reinsurance Program for eligible insurers offering business interruption insurance.

This bill establishes the New Jersey Pandemic Risk Reinsurance Program and the New Jersey Pandemic Risk Reinsurance Fund. The program provides coverage for eligible insurers when claims payable from a covered public health emergency exceed $75 million statewide. The fund consists of an annual appropriation of at least $50 million from the state's General Fund and at least $50 million from federal assistance. Participating insurers must offer a rider to policies for businesses with up to 100 employees, covering global virus transmission or pandemic.