RIMS on Monday announced its support for the Pandemic Risk Insurance Act of 2021, a bill that would create a federal reinsurance program for property and casualty carriers’ losses related to pandemics and public health emergencies.
“The Pandemic Risk Insurance Act would be an important step in Congress’ prevention efforts against economic losses from future pandemics by requiring insurance companies to offer parametric non-damage business interruption insurance policies that cover pandemics and creating a Pandemic Risk Reinsurance Program to ensure that there is suf...
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