Pandemic Risk Insurance Act of 2020 Introduced in Congress – A Federal Backstop for Business Interruption and Event Cancellation Losses

After months of discussion and drafting, H.R.7011, the Pandemic Risk Insurance Act of 2020 (PRIA) was introduced by Representative Carolyn Maloney and twenty co-sponsors on May 26, 2020. If passed as currently drafted, the Act would mandate that insurance companies…

A Place for Insurance in a Global Pandemic: How Do Event Cancellation & Business Interruption Policies Apply to COVID-19?

It is an understatement to say that the foothold the 2019 Novel Coronavirus (COVID-19) has gained in the U.S. and resulting government mandates have developed at a rapid pace. Two weeks ago, companies were open for business, but were well…