As we all know, reopening businesses come with a risk. Insurance companies have taken the position that the effects of the pandemic are not covered by the business interruption insurance provisions found in existing policies. Moreover, many insurance companies are not writing new policies that would cover the effects of the COVID-19 pandemic.
NAB and others have now asked Congress to require insurance companies to provide this type of insurance. Without it, many companies may not be willing to take the risks of reopening businesses during the COVID 19 pandemic.
To see a copy of the letter click HERE.
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