image credit: Pexels

Insurers propose pandemic assistance plan

May 29, 2020


Property and casualty insurers have devised a non-insurance-based proposal to cover lost business income in a future pandemic, but that won’t help businesses that have been staggered financially beacuse of COVID-19, nor is it clear Congress will get behind what will surely be an expensive solution.

“Pandemics simply are not insurable risks; they are too widespread, too severe, and too unpredictable for the insurance industry to underwrite,” said Charles Chamness, president and CEO of the National Association of Mutual Insurance Companies (NAMIC). “As we’ve seen in the past few months, pandemics are a national problem, and we need a national solution.”

Read More on Restaurant Dive