Commissioner Lara Orders Insurance Data on Business Interruption Coverage to Assist California Small Businesses Roy / Friday, April 3, 2020 / Categories: Insurers 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." ... Tags DOICaliforniaCOVID-19 More links 2020 Press Release Source of the above information Related articles Atmospheric River Brings Dangerous Flash Flooding and Heavy Mountain Snow to Central and Southern California Hawaii Declaration from the State Insurance Commissioner regarding assistance of nonresident independent adjusters due to fires across the state Magnitude 6.0 Earthquake in California S.C. Private Flood Insurance Act Enacted, Aims to Make Flood Insurance More Accessible Commissioner Donelon Reminds Policyholders They Are Subject to Only One Hurricane Deductible Per Season Comment Collapse Expand Comments (0) warning You don't have permission to post comments.