HR 6494
Business Interruption Insurance Coverage Act of 2020
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Business Interruption Insurance Coverage Act of 2020, aims to ensure that business interruption insurance policies cover losses resulting from viral pandemics, government-ordered business closures, mandatory evacuations, and public safety power shut-offs. It effectively removes existing exclusions from policies in force on the date of enactment that specifically prevent coverage for these events. Insurers can only reinstate exclusions if the policyholder authorizes it in writing or fails to pay a resulting premium increase after receiving proper notice.
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Primary sponsor
Cosponsors
Alcee L. Hastings
Charlie Crist
Gilbert Ray, Jr. Cisneros
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