Webinar: State & Federal Legislative Update on Business Interruption Insurance
Name:
Webinar: State & Federal Legislative Update on Business Interruption Insurance
Date:
April 22, 2020
Time:
10:00 AM - 11:00 AM EDT
Website:
Register here
Event Description:
As the insurance industry continues to grapple with a rapidly changing landscape surrounding the coronavirus pandemic, State and Federal governments are attempting to step in. This session will give a State and Federal overview of proposed legislation, including a discussion on the draft of the Pandemic Risk Insurance Act of 2020, a bill that would establish a Federal program for insurance industry losses related to the pandemic.
This proposed legislation, would provide shared public and private compensation for Business Interruption (“BI”) losses resulting from a pandemic or other outbreak.
Notwithstanding the mechanism of recovery – whether through insurance or by state or federal law - businesses should proactively set up separate accounts in their internal accounting system and collect financial documents to support any losses related to COVID-19 expenses. The speakers will review the steps business owners can take to be prepared for documenting losses related to COVID-19.
This proposed legislation, would provide shared public and private compensation for Business Interruption (“BI”) losses resulting from a pandemic or other outbreak.
Notwithstanding the mechanism of recovery – whether through insurance or by state or federal law - businesses should proactively set up separate accounts in their internal accounting system and collect financial documents to support any losses related to COVID-19 expenses. The speakers will review the steps business owners can take to be prepared for documenting losses related to COVID-19.
