National Insurance Trade Associations Propose Federal Pandemic Solution
May 22, 2020
Three of nation’s leading insurance trade associations have pulled their resources and man power to devise a business owner driven proposal for Congress dubbed the Business Continuity Protection Program (BCCP). In its simplest form, it is a federally funded insurance program designed to help businesses meet and overcome the challenges from future pandemics through providing revenue replacement assistance for payroll, employee benefits, and operating expenses following a presidential viral emergency declaration.
Proposed by the National Association of Mutual Insurance Companies (NAMIC), the American Property Casualty Insurance Association (APCIA), and the Independent Insurance Agents & Brokers of America, Inc. (Big “I”), they intend to work with the Trump Administration and Congress to help protect America’s businesses.
Read the official press release outlining the Business Continuity Protection Program here.