ASAE, BCC Urge Congress to Mitigate Pandemic Risk

ASAE and other members of the Business Continuity Coalition (BCC) urged lawmakers in a Senate Banking subcommittee hearing today to develop a public/private program to mitigate event cancellation, business interruption and related losses from a future pandemic or other devastating event. The Senate Banking Subcommittee on Securities, Insurance and Investment convened the hearing to “explore… Read more »

Hearing Highlights Hurdles for Pandemic Risk Insurance

Despite widespread backing from ASAE and the business community, legislation that would protect organizations from business interruption losses resulting from future pandemics or public health emergencies continues to garner little support from Republicans or the insurance industry. Opposition to the Pandemic Risk Insurance Act (PRIA), introduced earlier this year by Rep. Carolyn Maloney (D-NY) and… Read more »

House Subcommittee Hearing on PRIA Set for Nov. 19

The House Financial Services Subcommittee on Housing, Community Development and Insurance will hold a hearing Nov. 19 to examine the Pandemic Risk Insurance Act (PRIA) and how to address the need for coverage during a pandemic. This hearing was originally scheduled for the summer and is a major step to building bipartisan support. ASAE endorsed… Read more »