More congressional letters opposing retroactive business interruption proposals for COVID-19 claims.
Their letter refers to a recent National Association of Insurance Commissioners statement which opines: “While the U.S. insurance sector remains strong, if insurance companies are required to cover such claims, such an action would create substantial solvency risks for the sector, significantly undermine the ability of insurers to pay other types of claims, and potentially exacerbate the negative financial and economic impacts the country is currently experiencing.”
Read the full article by the Big I here.