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.
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.
Cardiovascular and respiratory healthDisaster relief and insuranceEconomic performance and conditionsEmergency medical services and trauma careInfectious and parasitic diseasesInsurance industry and regulationPublic-private cooperation