HR 7412
116th Congress
House
Finance and Financial Sector
Cardiovascular and respiratory health
Disaster relief and insurance
Economic performance and conditions
Emergency medical services and trauma care
Infectious and parasitic diseases
Insurance industry and regulation
Public-private cooperation
Business Interruption Relief Act of 2020
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 29, 2020
Referred to the House Committee on Financial Services.
Jun 29, 2020
Introduced in House
Plain-English summary
Business Interruption Relief Act of 2020
This bill establishes the Business Interruption Relief Program within the Department of the Treasury to provide financial assistance to insurers that voluntarily pay benefits under certain policies for COVID-19 (i.e., coronavirus disease 2019) losses. Specifically, insurers qualify for the program if the insurer has at least one outstanding and existing policy for business interruption coverage that (1) expressly covers losses during a civil authority shutdown as a result of the COVID-19 pandemic, and (2) expressly excludes coverage for a virus. Participation in the program is voluntary.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1