Establishes New Jersey Pandemic Risk Reinsurance Program.

This bill establishes a New Jersey Pandemic Risk Reinsurance Program to help insurers cover business interruption claims during major public health emergencies. It requires eligible insurers to offer pandemic coverage riders to small businesses (with 100 or fewer full-time employees) and creates a state fund to share losses when statewide claims exceed $75 million, with annual payouts capped at $500 million. The fund will be financed with $50 million annually from the state budget plus federal pandemic relief funds. Insurers must share costs above their deductible (5% of prior year premiums) before the program covers losses proportionally. The program would sunset if a federal pandemic reinsurance program is enacted.