As policymakers return to Washington and debate how to best help the economy recover from the COVID-19 pandemic, one thing is certain: American businesses need a government-backed solution to get our economy back on its feet.

Recent polling conducted by CivicScience and initiated by FAIR illuminates how the American public is thinking about this crisis and the road ahead:

• The majority of Americans believe the government should bear the financial responsibility for helping businesses stay afloat during the pandemic.* A government-backed policy solution can provide immediate relief to struggling business owners and protect insurers’ ability to keep promises to policyholders for covered catastrophe losses, like damage from wildfires and hurricanes.
  

• Only 16% of Americans believe insurance companies should bear the responsibility for helping businesses during this unprecedented time.* Business interruption insurance contracts were not priced to cover global pandemic risks, so forcing insurers to pay for claims their policies weren’t priced to cover would harm all policyholders. 
  

• Only 8% of Americans say trial lawyers’ lawsuits against insurers is the best path for businesses to secure financial relief.* Trial attorneys’ attempts to retroactively force uninsurable pandemic coverage in business interruption insurance contracts is detrimental to policyholders, communities, insurers, and economic growth.
  

One thing is clear—Americans across the country widely recognize that only the federal government can provide the true relief business owners need. Business interruption insurance was never intended to cover global pandemic risk. The sheer scope and magnitude of loss associated with a pandemic of this nature is unprecedented and extends far beyond the ability of the insurance business model to address, and that’s what makes it uninsurable.

This fall, it is imperative that policymakers put in place the policies needed to help us recover from the massive economic damage COVID has caused to businesses of all sizes across the country. While there are no shortage of political distractions, the urgency for a government-backed solution for struggling businesses in need of relief has never been greater.

*Polling conducted by CivicScience and all commentary is attributed to FAIR.

For more information, please visit fairinsure.org.