Insurance Information Institute: Rewriting Contracts and Mandating Payouts Would Bankrupt Insurers
April 25, 2020
April 25, 2020
NEW YORK, April 25 -- The Insurance Information Institute issued the following news release:
State legislation aimed at retroactively rewriting business interruption policies nationwide would cost insurers tens of billions of dollars a month and quickly imperil the U.S. insurance industry's solvency, according to the Insurance Information Institute (Triple-I).
"Pandemics are an extraordinary catastrophe that can impact nearly every economy in the world, so it is ha . . .
State legislation aimed at retroactively rewriting business interruption policies nationwide would cost insurers tens of billions of dollars a month and quickly imperil the U.S. insurance industry's solvency, according to the Insurance Information Institute (Triple-I).
"Pandemics are an extraordinary catastrophe that can impact nearly every economy in the world, so it is ha . . .