As part of its effort to help pass pandemic risk insurance legislation that will protect American jobs and limit future economic damage from pandemics and other national emergencies, ASAE joined the Business Continuity Coalition.
ASAE recently joined the steering committee of the Business Continuity Coalition (BCC) as a part of its effort to help pass critically needed pandemic risk insurance legislation.
“ASAE is honored to join the BCC and help find a strong solution for pandemic risk insurance and, in particular, event cancellation coverage,” said ASAE President and CEO Susan Robertson, CAE. “Major in-person events are the lifeblood of our association community, and a robust coverage solution is essential to provide the security associations need to fully reignite our far-reaching economic impact through industry-focused conferences, workforce development, educational programming and other critical services. The BCC, comprised of major organizations across industry, is a leader on this issue and we are excited to join forces.”
The BCC represents a broad range of business insurance policyholders, including trade associations; professional societies; and the restaurant, entertainment, hospitality, gaming, retail, communications, broadcasting, and real estate industries, which employ millions of people. The BCC works with policymakers and other U.S. stakeholders to develop an insurance program that protects jobs by ensuring business continuity from future economic losses from this, or any pandemic, and other emergencies necessitating widespread closures of the economy.
ASAE has called for a pandemic risk insurance solution since March 2020 and strongly supported Congresswoman Carolyn Maloney’s (D-NY) Pandemic Risk Insurance Act of 2020. In July 2020, ASAE led a group of more than 2,000 organizations to support the legislation [PDF], which would establish a system of shared public and private compensation for business interruption losses and event cancellations resulting from future pandemics or public health emergencies.