|Posted:||May 26, 2020 05:16 PM|
|From:||Representative Frank Dermody|
|To:||All House members|
|Subject:||Small Business Insurance Relief for Future Emergencies|
|An insurance policy that doesn’t pay the holder when emergencies arise is worse than no coverage at all – it’s money that could have been used to reinvest in the business thrown away.
Too many of our community entrepreneurs are being told their business interruption insurance won’t pay off during the global pandemic. I recently introduced legislation to make sure businesses would receive payment during the COVID-19 pandemic this legalization would protect business for future emergencies.
By making this happen we would ensure moving forward, if we experience another catastrophe and the Governor must issue a proclamation of disaster, the businesses will receive their insurance monies they so desperately need. The interrupted business can apply for those losses which will be paid in accordance with their insurance policy. Finally, if an insurance company needs relief, there are provisions for the Insurance department and the state and federal government to assist.
It is important that we be prepared for the next emergency. Our small business owners need to know that the insurance they purchase will pay the benefits owed in a crisis, when our local small entrepreneurs need it. I hope that you will join me in supporting Pennsylvania’s communities by sponsoring this legislation.
Introduced as HB2759