Partner Marc O. Dedman Quoted in Crain’s New York Business’ Article, “Albany Pandemic Bill Could Change Commercial Insurance Industry Forever”

Jun 8, 2020 | In The Media

Partner Marc O. Dedman offered insight in Crain’s New York Business article “Albany Pandemic Bill Could Change Commercial Insurance Industry Forever ” as to Assemblyman Robert Carroll’s proposed bill which targets clauses excluding insurance coverage for business interruption arising from “virus” or “communicable disease” and “acts of civil authority” related to COVID-19. Marc stated that something must be done to help businesses who sustained such devastating economic losses; however, this specific approach is not necessarily it. According to Marc, the assumption that the insurance industry has the capital to cover the losses is not correct and alternative solutions should be explored such as using the Terrorism Risk Insurance Act (TRIA) as a model. To read the article in its entirety, click here.