Pandemic legislation: Lessons from the U.S. terrorism response

Will the United States federalize pandemic business-interruption losses in the same way the country did with terrorism losses?

By Dan Rabinowitz | October 15, 2020 at 06:00 AM

Despite 2020's volatile political environment, the Pandemic Risk Insurance Act of 2020, or PRIA, may be the best hope to achieve predictability for the economic consequences of future pandemics. (Shutterstock)

The COVID-19 pandemic is the latest event to prompt questions about how society navigates very low-frequency, very high-severity events.

Just as with the Sept. 11, 2001 attacks, we are debating the limits of what private insurance, private industry, and the taxpayer can or should be expected to absorb.

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