U.S. legislation introduced on Tuesday would create a taxpayer-backed insurance program to protect businesses from revenue losses during future pandemics and require insurers to pay a slice of the claims.
FILE PHOTO: Chairwoman of the House Government Oversight and Reform Committee Carolyn Maloney leads a hearing about coronavirus preparedness and response on Capitol Hill in Washington, U.S., March 12, 2020. REUTERS/Joshua Roberts -/File Photo
While these policies may cover revenue losses from lightning strikes or cars crashing into buildings, they either exclude or do not specifically cover a pandemic, despite the business interruption it causes. Instead, they proposed putting the Federal Emergency Management Agency in charge of a fully taxpayer-backed program to protect businesses from future pandemic revenue losses.
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