Federal Legislative Activity on Business Interruption Insurance

House Democrats released their long awaited next phase COVID-19 stimulus proposal on Tuesday, May 12, 2020 – The HEROES Act, which they are promoting as “a bold response to the coronavirus pandemic and the economic collapse.” There was much speculation in advance of its release about whether the package would include provisions addressing business interruption (BI) insurance – either retroactive coverage of BI claims from recent months, or the creation of new programs relating to future BI events. The HEROES Act does neither, nor does it include any provisions relating to BI insurance. We take a closer look at federal legislative activity on business interruption insurance in a new client alert.