HR 6494
116th Congress
House
Finance and Financial Sector
Contracts and agency
Electric power generation and transmission
Emergency medical services and trauma care
Emergency planning and evacuation
Federal preemption
Infectious and parasitic diseases
Insurance industry and regulation
Life, casualty, property insurance
Public utilities and utility rates
State and local government operations
Business Interruption Insurance Coverage Act of 2020
Introduced: April 14, 2020
Introduced by:
Thompson, Mike
Democratic
· California
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 14, 2020
Referred to the House Committee on Financial Services.
Apr 14, 2020
Introduced in House
Plain-English summary
Business Interruption Insurance Coverage Act of 2020
This bill requires insurers that provide business interruption coverage to insure as part of this coverage losses from a viral pandemic, a government-ordered business closure or evacuation, or a power disruption conducted for public safety purposes.
The bill also nullifies provisions in a business interruption insurance contract in force on the date of enactment that exclude such an event from coverage. An insurer may reinstate such an exclusion if (1) the insured authorizes the reinstatement in writing, or (2) the insured fails to pay the corresponding premium increase after adequate notice by the insurer of such an increase.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1