HR 6497
Never Again Small Business Protection Act of 2020
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Never Again Small Business Protection Act of 2020, aims to provide additional insurance coverage for businesses that have experienced interruptions due to government-ordered closures during national emergencies. Insurers would be required to offer optional coverage specifically for these losses, lasting at least 30 days from the start of the emergency. However, the coverage won't apply if a business involuntarily terminated employee health care or employment during the emergency, and exclusions can only be applied with the insured’s written consent or by failing to pay the premium increase. The bill also requires a study on establishing a federal backstop to reinsure insurers against excessive losses.
Sponsors
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Primary sponsor
Cosponsors
Dean Phillips
Gilbert Ray, Jr. Cisneros
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