More than two dozen groups of policyholders representing hospitality, real estate, retail, film, television and other industries have formed a coalition in the recent press to create a public-private backstop for future pandemic risks.
In a statement Thursday, the Washington-based Coalition Business Continuity Coalition said it was advocating a program that, in the event of a government-ordered suspension, would allow employers to keep wages and supply chains intact.
Help remove one of the strangers in remodeling and help small and large business owners plan for the future, ”said Sean Kennedy, Vice President of Public Affairs at the National Restaurant Association, in the statement.
The move was welcomed by John Doyle, President and CEO of Marsh LLC.
"We have had talks with the coalition and many of its members throughout its formation. We believe that a policyholder-led group will be a powerful force in creating agreement on a public-private solution for future pandemic risk, Doyle said in a statement.
The Steering Committee members of the BCC are: American Resort Development Association, Building Owners and Managers Association, Fox Corp., Independent Film & Television Alliance, International Council of Shopping Centers, Motion Picture Association, NAIOP-Commercial Real Estate Development Association, National Association of Real Estate Investment Trust, National Association of Realtors, National Restaurant Association, Sony Pictures Entertainment, The Real Estate Roundtable and ViacomCBS.
The coalition follows similar efforts by companies, risk managers and others to create a backstop for managing pandemic risk insurance.
More insurance and risk management news about the coronavirus crisis here . Catalog