Senate leader Mitch McConnell has repeatedly said there needs to be some protection for businesses in the next stimulus bill.
He isn't alone in this sentiment. The Real Estate Roundtable is lobbying to have pandemic risk insurance included, according to comments Ryan McCormick, senior vice president and counsel of the organization made in a recent CBRE podcast. He says there is a growing recognition that it's better to plan and prepare now for the future economic risk associated with pandemic-related and other potential government shutdowns.
McCormick says two dozen industries, representing 50 million workers, including restaurants, entertainment, movie gaming and hospitality, have created a business continuity coalition to develop a plan. He says the concept is a public-private business continuity insurance program that will enable employers to keep payrolls and supply chains intact, protect jobs and reduce furloughs in the event of a future shutdown.
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