Roy
/ Categories: Insurers

Commissioner Lara Orders Insurance Data on Business Interruption Coverage to Assist California Small Businesses

From the Press Release;

....

"SACRAMENTO, Calif. — Today, Insurance Commissioner Ricardo Lara directed insurance companies to submit data to the California Department of Insurance regarding coverage of commercial business interruption related to COVID-19. The data will help state policymakers to understand the scope of insured and uninsured losses to businesses in order to help them recover and keep workers employed.

“The coronavirus crisis is devastating small businesses across our state, throwing people out of work and quickly unraveling our economy,” Commissioner Lara said. “Although many small businesses maintain commercial multi-peril insurance policies with business interruption coverage, they will have large uninsured losses. We are currently working with the insurance industry and business groups to find creative solutions during this unprecedented crisis to make sure our businesses survive, and we need this data to define the size of the problem.”

Commissioner Lara called on the insurance industry to assist small businesses facing layoffs and lost income due to business closures and government actions to prevent the spread of COVID-19. Insurance company responses to the data call are due by April 9, 2020, and will help the Department understand the number and scope of commercial business interruption type coverages in effect and the approximate number of policies that exclude viruses such as COVID-19. This data will help inform state policymakers on solutions to protect businesses."

...

Print
324
Please login or register to post comments.

Theme picker


Forum Topics

Finding Scope Generation and Estimating Assignments

Hello All,   I would like some advise on how to secure more scope and estimating projects.  I am a senior building consultant with an engineer on staff (2 man crew) We have all the tools a

Posted: 06/18/2009 11:19 AM Replies: 4

on the job training

looking for a mentor/trainer in Tampa to take me into the field and teach me. pls email j7470ek@verizon.net

Posted: 12/19/2012 8:49 AM Replies: 1

Slow....Slow......Slow....

Is it just me or is it super slow out there? No CATs......Not much Daily Work. Not much going on since the South Texas Hail Storm!!

Posted: 05/14/2012 4:04 PM Replies: 4

California Newbie

I got offered a job opportunity from a Partner in a claims co. and did a week ride a long with an adjuster. I'm in California which I am under the companies umbrella so don't have to get a CA. Liscen

Posted: 03/04/2013 3:42 PM Replies: 9

FEMA: Insurance Applies if Oil from Spill Mixes with Flood Waters

FEMA: Insurance Applies if Oil from Spill Mixes with Flood Waters June 9, 2010 The Federal Emergency Management Agency has clarified that in the event of a declared flooding dis

Posted: 06/11/2010 9:59 AM Replies: 1

Question from Visitor; Help with mobile home claim

I am not sure if you can help me, but I desperately need help with reference to an insurance claim that was denied.This is the second mobile home that has been damaged by water (Rain) that the insuran

Posted: 07/26/2010 5:15 PM Replies: 10

tools that can be returned

Let's say the insured had $4000.00 of Sears Craftsman tools, and $4000.00 of no name tools, both damaged in a fire. You know the Crafstman tools can be reurned to Sears and exchanged for new tools- li

Posted: 05/18/2009 10:19 AM Replies: 21

Hurricane Sandy, Could she have a nasty surprise waiting for the NE CONUS

At this time a rapidly strengthening hurricane is going to cross Jamaica, Cuba and the Bahamas. But what then. Some modleing is suggesting a sub tropical blow to the NE with widespread 60 to 70 mph wi

Posted: 10/24/2012 8:47 AM Replies: 24

Multiple ! Licenses

Is there any harm in holding a adjusters license along with a p & c agents license.

Posted: 02/16/2014 3:43 AM Replies: 9

Anyone adjusting in the Cincinnati area?

I do a lot of work in Cincinnati and I was curious if we have any board members in Cincinnati.

Posted: 12/02/2009 4:54 PM Replies: 0