Amid the ongoing coronavirus pandemic, there is huge concern about the economic impact from not only the spread of the virus but also how the US and other countries are working to limit its spread. Event cancellations, business interruption and economic losses are widespread and in many cases will not be covered by insurance.
Wayne Allen, a principal of IE Advisory, speaks with Zachary Finn, Clinical Professor & Director of the Davey Risk Management & Insurance Program at Butler University, about his ideas for creating a federal program for pandemic risks, similar to the Terrorism Risk Insurance Act, that would enable the insurance industry to provide coverage. Hear why the lessons learned from the 9/11 terrorism attacks provide a template for coronavirus losses and would provide businesses with greater certainty and protection for economic losses resulting from COVID-19.
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