The National Association of Insurance Commissioners (“NAIC”) has organized a data call regarding business interruption coverage as it relates to the COVID-19 pandemic. Regulators in all 50 states, the District of Columbia, and the U.S. territories have agreed to participate. The data call will be in two parts; the first part relating to business interruption premium exposure due on May 22, 2020, and the second part relating to business interruption claims and losses due on June 8, 2020. A formal letter detailing the data call is expected to be released on May 8, 2020.
For assistance in completing this data call, or any other compliance needs, please contact Westmont Associates, Inc.