05/28/2020

U.S. Lawmaker Introduces Pandemic Risk Insurance Act of 2020

The legislation is supported by OSAE and ASAE

Yesterday, Congresswoman Carolyn B. Maloney (D-NY) introduced the Pandemic Risk Insurance Act of 2020 (H.R. 7011), 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.

The American Society of Association Executives (ASAE) has called for such a proposal since its March 19 appeal to Congress and played a major role to ensure that H.R. 7011 would support associations – particularly through event cancellation coverage. If enacted, associations and others would have access to this insurance beginning Jan. 1, 2021.

ASAE and OSAE support H.R. 7011 and continues to build support in Congress, as expressed in Congresswoman Maloney’s press release:

“The Pandemic Risk Insurance Act offers a critical solution for associations and others devastated by event cancellations, slashed reserves and sharp membership declines amid COVID-19,” said Susan Robertson, CAE, ASAE's president & CEO. “ASAE thanks and applauds Congresswoman Maloney for introducing this important bill, which will no doubt help provide America’s 62,000 associations the security they need to fully reignite our community’s far-reaching economic impact through industry-focused conferences, workforce development and educational programming, among other critical services.”

ASAE will prepare a call to action for its members in the near future; if you would like to support this bill in the meantime, please contact ASAE public policy staff at (202) 371-0940.