Government Should Underwrite Business Interruption Insurance
Sustainable New Zealand Proposes That The Government Underwrite Business Interruption Insurance to Deal With Coronavirus-Related Disruption
Party Leader, Vernon Tava, says that “one of the most simple and effective measures available to the government to support business during this pandemic is to underwrite business interruption insurance.”
Sustainable New Zealand’s focus extends to fostering a sustainable business ecosystem. “We can’t be green if we’re in the red.” says Tava.
Most businesses have this type of insurance but it will not be covered by business interruption insurance except in the rare instances that this has been negotiated by a firm. That insurance cover is triggered by physical damage, which would not include business losses due to a pandemic or epidemic.