H.R. 6497 · 116th Congress
Never Again Small Business Protection Act of 2020
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
FitzpatrickSponsor6 cosponsors · 5 D, 1 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires that insurers offering business interruption coverage must offer additional coverage for losses that result from business interruption due to a government order to close during a national emergency.
What it does: CRS summary · Introduced in House · Apr 14, 2020
Never Again Small Business Protection Act of 2020
This bill requires that insurers offering business interruption coverage must offer additional coverage for losses that result from business interruption due to a government order to close during a national emergency.
This coverage does not apply to losses incurred by an otherwise qualified business if that business involuntarily terminated the health care or the employment of an employee during the national emergency period.
An insurer may exclude this additional coverage from a contract for business interruption coverage if the insured agrees in writing, or if the insured fails to pay the corresponding premium increase.
This bill is effective only upon certification by the Department of the Treasury that a federal backstop exists to serve as a mechanism to reinsure insurers against excessive losses as a result of these requirements.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Never Again Small Business Protection Act of 2020
Latest action (Apr 14, 2020): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Apr 14, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.