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D.C. Council Removes Business Interruption Insurance Measure from Omnibus Bill

By NAIFA on 5/6/20 10:26 AM

All eyes were on the Washington, D.C., Council on Tuesday morning. Included in its “Coronavirus Omnibus Emergency Amendment Act of 2020” was a proposal to essentially rewrite business income insurance policies and require the industry to pay for losses that were not covered. The Council ultimately agreed to withdraw the language before passing the omnibus bill. The business interruption insurance measure could have threatened the financial solvency of the District's insurance industry, so having it removed was a major win for insurers.

Topics: State Advocacy COVID-19 Washington, D.C.