Gene Maddaus Senior Media WriterA proposal to provide a federal backstop for pandemic insurance ran into stiff opposition from some House Republicans during a hearing on Thursday.Rep.
Carolyn Maloney, D-N.Y., authored the Pandemic Risk Insurance Act, which would provide up to $750 billion in federal backing to allow insurers to issue policies that would cover losses from COVID or other pandemics.
Insurers have denied coverage for most COVID losses, and has excluded pandemic coverage from all new policies.The entertainment industry has rallied in support of Maloney’s bill because it would help film and TV productions get pandemic coverage, which can be critical to obtaining financing.
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