{"id":424,"date":"2020-04-14T18:30:02","date_gmt":"2020-04-14T22:30:02","guid":{"rendered":"http:\/\/blogs.duanemorris.com\/coronaviruscovid19\/?p=424"},"modified":"2020-09-01T17:06:31","modified_gmt":"2020-09-01T21:06:31","slug":"efforts-by-lawmakers-continuing-to-compel-coronavirus-business-interruption-insurance","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/2020\/04\/14\/efforts-by-lawmakers-continuing-to-compel-coronavirus-business-interruption-insurance\/","title":{"rendered":"Efforts by Lawmakers Continuing to Compel Coronavirus Business Interruption Insurance"},"content":{"rendered":"<p>The potential cost of business continuity losses is enormous. The Congressional Research Service issued a report to Congress on the financial impact to insurers for the cost of covering business interruption claims. The report explains that some industry sources estimate that the cost of covering business interruption claims ranges from $110 billion to $290 billion\u00a0<em>per month.\u00a0\u00a0<\/em>In a more recent letter, insurance industry leaders explained, \u201crecent estimates show that business continuity losses just for small businesses of 100 or fewer employees could amount to between $220 billion to $383 billion per month.\u00a0 Meanwhile, the total surplus for all of the U.S. home, auto, and business insurers combined to pay all future losses is only $800 billion.\u201d<\/p>\n<p>To read the full text of this post by <a href=\"https:\/\/www.duanemorris.com\/attorneys\/dominicacanderson.html\" target=\"_blank\" rel=\"noopener noreferrer\">Dominica Anderson<\/a>,\u00a0<a href=\"https:\/\/www.duanemorris.com\/attorneys\/philiprmatthews.html\" target=\"_blank\" rel=\"noopener noreferrer\">Philip Matthews<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.duanemorris.com\/attorneys\/danielbheidtke.html\" target=\"_blank\" rel=\"noopener noreferrer\">Daniel Heidtke<\/a>, please <a href=\"https:\/\/blogs.duanemorris.com\/insurancelaw\/2020\/04\/14\/lawmakers-continue-efforts-to-compel-coronavirus-business-interruption-insurance\/\" target=\"_blank\" rel=\"noopener noreferrer\">visit the <em>Duane Morris Insurance Law Blog<\/em><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The potential cost of business continuity losses is enormous. The Congressional Research Service issued a report to Congress on the financial impact to insurers for the cost of covering business interruption claims. The report explains that some industry sources estimate that the cost of covering business interruption claims ranges from $110 billion to $290 billion\u00a0per &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/2020\/04\/14\/efforts-by-lawmakers-continuing-to-compel-coronavirus-business-interruption-insurance\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Efforts by Lawmakers Continuing to Compel Coronavirus Business Interruption Insurance&#8221;<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[551,552,984,111],"ppma_author":[1043],"class_list":["post-424","post","type-post","status-publish","format-standard","hentry","category-general","tag-business-interruption-insurance","tag-claims","tag-insurance-and-reinsurance","tag-insurance-law"],"authors":[{"term_id":1043,"user_id":6,"is_guest":0,"slug":"duanemorris3","display_name":"Duane Morris","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/843ff6e7a8fe5fc92109b47a45f34b6cf0ea499e6e788db23456c838b0ae6747?s=96&d=blank&r=g","0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/posts\/424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/comments?post=424"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/posts\/424\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/media?parent=424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/categories?post=424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/tags?post=424"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/ppma_author?post=424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}