,i #aaf? ,,congress #b;d ,session ,h4 ,r4 #gdab ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,june #bi1 #bjbj ,mr4 ,?ompson ( ,cali=nia introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices ,a ,,bill ,to e/abli% a tempor>y volunt>y program = support ( insur]s provid+ bus9ess int]ruption insurance cov]age dur+ ! ,,covid-#ai p&emic1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,bus9ess ,int]ruption ,relief ,act ( #bjbj4 #b4 ,f9d+s & purposes 7a7 ,f9d+s ,! ,congress f9ds t-- 7#a7 m&atory civil au?ority %utd[ns z a result ( ! coron>virus disease #bjai 7,,covid-#ai7 h adv]sely impact$ bus9esses ?r\gh\t ! ,unit$ ,/ates2 7#b7 ! ,am]ican economy relies 9 "p ^u an inve/m5t 9 & expectation ( insurance b5efits t back bus9ess assets & ! work=ce2 7#c7 _m bus9esses h paid policy premiums = bus9ess int]ruption cov]age &1 9 p>ticul>1 = cov]age = civil au?ority %utd[ns ( bus9esses2 7#d7 _m bus9esses t pur*as$ bus9ess int]ruption cov]age & cov]age = civil au?ority %utd[ns did s 9 ! expectation t insurance w\ld protect a tempor>y %utd[n ( _! work=ce1 prev5t lay(fs & furl\ghs1 & all[ an ord]ly re/>t ( op]ations2 & 7#e7 ,/ate laws m&ate an ord]ly & prompt paym5t ( fir/ p>ty insurance claims & insur]s h claim managem5t res\rces ) ! exp]tise & skills to timely manage claims paym5t & di/ribution ( funds accord+ to expect$ & reli$ ^u guidel9es & proc$ures t policyhold]s _h ! expectation to receive4 7b7 ,purposes ,! purposes ( ?is ,act are-- 7#a7 to e/abli% a program to enc\rage & provide support = insur]s :o timely pay claims "u bus9ess int]ruption cov]age to policyhold]s adv]sely affect$ by civil au?ority %utd[ns result+ f ! ,,covid-#ai p&emic2 & 7#b7 to e/abli% ! program 9 a mann] t ensures t-- 7,a7 c>ri]s t sold policies t cov] bus9ess int]ruption losses = ,,covid-#ai d n receive any ,f$]al w9dfall2 & 7,b7 c>ri]s t sold policies t expressly exclude cov]age = a virus or p&emic = ,,covid-#ai c avoid co/ly litigation ) policyhold]s1 & policyhold]s may receive policy b5efits to comp5sate = gov]nm5t %utd[n & bus9ess int]ruption4 #c4 ,public_/,private p>tn]%ip bus9ess int]ruption insurance relief program = ,,covid-#ai 7a7 ,e/abli%m5t ,!re is e/abli%$ 9 ! ,dep>tm5t ( ! ,treasury ! ,bus9ess ,int]ruption ,relief ,program4 7b7 ,volunt>y ,p>ticipation 9 ! ,program on ! "p ( an insur] %all be volunt>y at ! option ( ! insur]4 7c7 ,eligible policies ,to be eligible to p>ticipate 9 ! ,program1 an insur] %all h1 z ( ! date ( initial p>ticipation 9 ! ,program1 "o or m out/&+ & exi/+ policies ( insurance issu$ to a policyhold] = bus9ess int]ruption insurance cov]age t-- 7#a7 expressly include cov]age = losses dur+ any p]iod ( "t t any civil au?ority %utd[n z a result ( ! ,,covid-#ai p&emic is 9 effect2 & 7#b7 expressly exclude cov]age = a virus4 7d7 ,assi/ance 7#a7 ,reimbursem5t = paym5t ( claims ,"u ! ,program1 ! ,secret>y %all provide f9ancial assi/ance to reimburse any p>ticipat+ insur] t volunt>ily pays b5efits "u an eligible policy = ,,covid-#ai losses1 !reby waiv+ ! exclusion ref]r$ to 9 subsection 7c77#b71 9 ! am\nt (-- 7,a7 ! b5efit to be paid 9 accordance ) all t]ms ( ! policy2 plus 7,b7 any exp5ses incurr$ by ! p>ticipat+ insur] relat+ to pay+ su* claim4 7#b7 ,prohibition ,! ,program %all provide no b5efit or reimbursem5t = an insur]'s paym5t & claim exp5ses = b5efits paid "u any policy = bus9ess int]ruption cov]age t does n expressly exclude cov]age = a virus4 7#c7 ,treatm5t ( rights & duties 7,a7 ,policyhold]s ,policyhold]s "u policies = :i* reimbursem5t is provid$ "u ! ,program %all reta9 all fir/ p>ty rights to policies = bus9ess int]ruption insurance cov]age4 7,b7 ,/ate law ,p>ticipation 9 ! ,program by an insur] %all n sup]s$e or replace any rights ( good fai? & fair duty "u ,/ate insurance law4 7#d7 ,compliance ,! ,secret>y %all take any su* actions z may be necess>y1 be=e provid+ any assi/ance pursuant to p>agraph 7#a7 to a p>ticipat+ insur]1 t ! p>ticipat+ insur] makes paym5t to policyhold]s 9 compliance ) ! t]ms & conditions ( ! policies ref]r$ to 9 subsection 7c74 7e7 ,limitation on assi/ance = a p>ticipat+ insur] ,! ,secret>y %all limit ! am\nt ( assi/ance provid$ = a p>ticipat+ insur] "u ! ,program "u ?is section accord+ to ! limits ( ! eligible policies involv$4 7f7 ,def9itions ,= purposes ( ?is section1 ! foll[+ def9itions %all apply3 7#a7 ,bus9ess int]ruption insurance cov]age ,! t]m bus9ess int]ruption insurance cov]age means prop]ty & casualty insurance cov]age provid$ or made available = losses result+ f p]iods ( susp5d$ bus9ess op]ations1 :e!r provid$ "u broad] cov]age or sep>ately4 7#b7 ,civil au?ority %utd[n ,! t]m civil au?ority %utd[n means =c$ closure ( bus9esses1 or evacuation1 by m&ate1 law1 or ord] ( any ,/ate or local gov]nm5t or gov]nm5tal (fic] or ag5cy4 7#c7 ,,covid-#ai losses ,! t]m ,,covid-#ai losses means = losses result+ f bus9ess int]ruption due to a civil au?ority %utd[n z a result ( ! ,,covid-#ai p&emic4 7#d7 ,eligible policy ,! t]m eligible policy means a policy = bus9ess int]ruption insurance cov]age describ$ 9 section #c7;c74 7#e7 ,insur] ,! t]m insur] has ! mean+ giv5 su* t]m 9 section #ajb ( ! ,t]rorism ,risk ,insurance ,act ( #bjjb 7#ae ,u4,s4,c4 #fgja note74 7#f7 ,p>ticipat+ insur] ,! t]m p>ticipat+ insur] means an insur] t-- 7,a7 has volunt>ily elect$1 9 accordance ) su* proc$ures & requirem5ts z ! ,secret>y %all e/abli%1 to p>ticipate 9 ! ,program2 & 7,b7 is 9 compliance ) ! requirem5ts "u ?is section = p>ticipation 9 ! ,program4 7#g7 ,program ,! t]m ,program means ! ,bus9ess ,int]ruption ,relief ,program e/abli%$ "u ?is section4 7g7 ,regulations ,! ,secret>y %all issue any regulations necess>y to c>ry out ! ,program4 7h7 ,fund+ ,!re is au?oriz$ to be appropriat$ su* sums z may be necess>y = provid+ f9ancial assi/ance "u ! ,program to p>ticipat+ insur]s4