The coronavirus disease 2019 (COVID-19) global pandemic is imposing significant economic consequences on millions of businesses. In addition, coverage under typical business interruption (BI) insurance provisions is not being triggered by the pandemic, due to the lack of physical damage to property or because of exclusions, such as those for contagion or communicable disease.
So, it is not surprising that policyholders, insurers, the insurance industry, governmental agencies and legislators are considering alternative ways to support impacted businesses. In this alert we summarize some of the current proposals for federal action.
