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Business Interruption Relief Act of 2020

USA116th CongressHR-7412| House 
| Updated: 6/29/2020
Mike Thompson

Mike Thompson

Democratic Representative

California

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Business Interruption Relief Act of 2020 This bill establishes the Business Interruption Relief Program within the Department of the Treasury to provide financial assistance to insurers that voluntarily pay benefits under certain policies for COVID-19 (i.e., coronavirus disease 2019) losses. Specifically, insurers qualify for the program if the insurer has at least one outstanding and existing policy for business interruption coverage that (1) expressly covers losses during a civil authority shutdown as a result of the COVID-19 pandemic, and (2) expressly excludes coverage for a virus. Participation in the program is voluntary.
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Timeline
Jun 29, 2020
Introduced in House
Jun 29, 2020
Referred to the House Committee on Financial Services.
  • June 29, 2020
    Introduced in House


  • June 29, 2020
    Referred to the House Committee on Financial Services.

Finance and Financial Sector

Related Bills

  • HR 116-7394: Business Interruption Relief Act of 2020
Cardiovascular and respiratory healthDisaster relief and insuranceEconomic performance and conditionsEmergency medical services and trauma careInfectious and parasitic diseasesInsurance industry and regulationPublic-private cooperation

Business Interruption Relief Act of 2020

USA116th CongressHR-7412| House 
| Updated: 6/29/2020
Business Interruption Relief Act of 2020 This bill establishes the Business Interruption Relief Program within the Department of the Treasury to provide financial assistance to insurers that voluntarily pay benefits under certain policies for COVID-19 (i.e., coronavirus disease 2019) losses. Specifically, insurers qualify for the program if the insurer has at least one outstanding and existing policy for business interruption coverage that (1) expressly covers losses during a civil authority shutdown as a result of the COVID-19 pandemic, and (2) expressly excludes coverage for a virus. Participation in the program is voluntary.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 29, 2020
Introduced in House
Jun 29, 2020
Referred to the House Committee on Financial Services.
  • June 29, 2020
    Introduced in House


  • June 29, 2020
    Referred to the House Committee on Financial Services.
Mike Thompson

Mike Thompson

Democratic Representative

California

Financial Services Committee

Finance and Financial Sector

Related Bills

  • HR 116-7394: Business Interruption Relief Act of 2020
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Cardiovascular and respiratory healthDisaster relief and insuranceEconomic performance and conditionsEmergency medical services and trauma careInfectious and parasitic diseasesInsurance industry and regulationPublic-private cooperation