Encino, Calif.-based NAS Insurance Services, a full-service specialty insurance underwriting manager, has partnered with Prospect Insurance Brokers Ltd. and Ark Specialty Programs of Lloyd’s of London to launch an insurance program for businesses facing the threat of Ebola-related closure.
Regulatory Business Interruption Ebola coverage would protect businesses closed due to a government-issued mandate, such as from the Centers for Disease Control in Atlanta or another relevant state or federal authority, the companies said in a statement. Businesses most at risk for such closures would include those where the public is likely to congregate: hospitals, hotels, airports, shopping centers, restaurants, theaters and gyms, as well as apartments and other habitational units.
The product is aimed at protecting businesses from the direct and indirect costs a mandated closure would bring, such as severe uninsured loss and bankruptcy, the companies stated.
Topics Legislation
Was this article valuable?
Here are more articles you may enjoy.
NYC Halts Construction at 222 Broadway Office-to-Residence Tower 
Mapfre to Acquire Safety Insurance for $1.54 Billion in Cash Deal 
AM Best Calls $1.54 Billion Mapfre-Safety Marriage ‘Strategically Compelling’ 
Why El Niño’s Promise of Quieter Hurricane Season May Not Be Good News for Insurers 
