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The US President was speaking in a White House press conference on Friday. -
Under a draft bill seen by this publication the scheme would pay out when aggregate claims surpass $250mn.
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Sources suggest the insurer has broader policy wording than that typically used for small business clients.
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SCGM says that the policy provides coverage because Covid-19 is a variant of SARS.
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Reinsurers are concerned about a wave of covered pandemic BI claims from the Canadian market.
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Despite a smooth transition to remote working, Lloyd’s underwriters are focusing on existing clients during the pandemic, the broker warns.
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The state has joined New York, Ohio and Massachusetts in considering the bill.
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The estimate comes as some US states consider proposals to force insurers to cover all BI claims.
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The executive was head of casualty for North America and London for Axis Reinsurance.
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Prime Time Sports Grill says its insurance claim was denied on 23 March.
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The president recognised that some policies have virus exclusions while others do not.
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Concerns remain over BI lawsuits despite management reassurances.
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