Pandemic Risk Insurance Act (PRIA)

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PRIA bill introduced with Pandemic Risk Reinsurance Program

H.R. 7011, or the Pandemic Risk Insurance Act of 2020, has been introduced by politicians and industry leaders including insurance and reinsurance market representatives and proposes the creation of a Pandemic Risk Reinsurance Program to compensate for business interruption caused by future pandemics.The bill has been in the works for read the full article →

Association’s propose federal program for “uninsurable” pandemic risk

U.S. insurance and reinsurance industry associations have launched a proposal for a industry-backed pandemic risk backstop, called the Business Continuity Protection Program (BCPP) as an alternative to the legislative proposal for a Pandemic Risk Insurance Act (PRIA) reinsurance backstop.The National Association of Mutual Insurance Companies (NAMIC), the American Property Casualty read the full article →

$500bn Pandemic Risk Insurance Act (PRIA) reinsurance program in the works

Draft legislation to form a U.S. Federal government backed reinsurance program for pandemic insurance claims is under discussion in the halls of power, with a bill perhaps ready to be submitted to the House before the end of this month.As we explained back on March 25th, the U.S. House Financial read the full article →