New York A11262 expands authorized insurance types to cover expenses from acts or threats of violence, business income losses, and adds.

New York A11262 amends the insurance law to authorize new kinds of insurance, including coverage for expenses and business income losses resulting from acts or threats of violence, even when not on the insured's premises. It also introduces representations and warranties insurance, which covers legal liability and property damage due to breaches in corporate mergers or acquisitions. Additionally, the bill adds tax interpretation insurance, which covers expenses and increased taxes due to invalid tax treatments determined by governmental authorities.

New York A11262 expands authorized insurance types to cover expenses from acts or threats of violence, business income losses, and adds.

New York A11262 amends the insurance law to authorize new kinds of insurance, including coverage for expenses and business income losses resulting from acts or threats of violence, even when not on the insured's premises. It also introduces representations and warranties insurance, which covers legal liability and property damage due to breaches in corporate mergers or acquisitions. Additionally, the bill adds tax interpretation insurance, which covers expenses and increased taxes due to invalid tax treatments determined by governmental authorities.