Business Interruption Insurance Coverage Act of 2020
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Apr 14, 2020)
Business Interruption Insurance Coverage Act of 2020
This bill requires insurers that provide business interruption coverage to insure as part of this coverage losses from a viral pandemic, a government-ordered business closure or evacuation, or a power disruption conducted for public safety purposes.
The bill also nullifies provisions in a business interruption insurance contract in force on the date of enactment that exclude such an event from coverage. An insurer may reinstate such an exclusion if (1) the insured authorizes the reinstatement in writing, or (2) the insured fails to pay the corresponding premium increase after adequate notice by the insurer of such an increase.
What just happenedApr 14, 2020
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseApr 14, 2020
- Apr 14, 2020IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Apr 14, 2020IntroReferralIntro-H
Introduced in House
- Apr 14, 2020IntroReferral1000
Introduced in House