US insurance trade bodies propose federal pandemic scheme

US Capitol, home of the US Congress, Washington DC. Credit: iStock/tupungato

A group of US insurance trade bodies has proposed a federally-backed insurance solution to support businesses financially affected by future pandemics. The group said this type of solution is needed because pandemic risks is simply too large to be covered by insurers alone. The Business Continuity Protection Program (BCPP) promises revenue replacement assistance for payroll, employee benefits and operating expenses.…

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