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Stock impact report

U.S. insurers want taxpayers to back pandemic coverage for businesses [Reuters]

Chubb Limited (CB) 
Last chubb limited earnings: 4/21 04:05 pm Check Earnings Report
Company Research Source: Reuters
U.S. insurers want taxpayers to back pandemic coverage for businesses April 29 (Reuters) - The U.S. insurance industry is promoting the idea of an insurance plan backed by the federal government that would help businesses that in the future suffer losses from a pandemic, people familiar with the effort told Reuters. The campaign involves discussions with lawmakers and regulators, public statements and coordination with a broad coalition of non-insurance companies including retailers, hoteliers and booksellers, sources said. Insurers are doing this after facing multiple lawsuits, fierce political pressure and criticism from customers with business interruption policies over not covering their recent financial hardships due to the novel coronavirus pandemic. About 40% of small businesses have business interruption coverage, according to the Insurance Information Institute, an industry trade group. While these policies may cover revenue losses from hurricane damage, lightning strikes or Show less Read more
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