ASAE Joins Business Continuity Coalition in Ongoing Effort to Pass Pandemic Risk Insurance Legislation
WASHINGTON, DC— ASAE joined the steering committee of the Business Continuity Coalition (BCC) as a part of the association’s steadfast effort to help pass critically needed pandemic risk insurance legislation.
“ASAE is honored to join the Business Continuity Coalition (BCC) and help find a strong solution for pandemic risk insurance and, in particular, event cancellation coverage,” said ASAE President and CEO Susan Robertson, CAE. “Major in-person events are the lifeblood of our association community, and a robust coverage solution is essential to provide the security associations need to fully reignite our far-reaching economic impact through industry-focused conferences, workforce development, educational programming and other critical services. The BCC, comprised of major organizations across industry, is a leader on this issue and we are excited to join forces.”
The BCC represents a broad range of business insurance policyholders, including trade associations, professional societies, and the restaurant, entertainment, hospitality, gaming, retail, communications, broadcasting and real estate industries, employing millions of people. The BCC works constructively with policymakers and other U.S. stakeholders to develop an insurance program that protects jobs by ensuring business continuity from future economic losses from this, or any pandemic, and other emergencies necessitating widespread closures of the economy.
ASAE has called for a pandemic risk insurance solution since March 2020 and strongly supported Congresswoman Carolyn Maloney’s (D-NY) Pandemic Risk Insurance Act of 2020. In July 2020, ASAE led a group of more than 2,000 organizations to support the legislation, which would establish a system of shared public and private compensation for business interruption losses and event cancellations resulting from future pandemics or public health emergencies.
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ASAE is a membership organization of more than 48,000 association executives and industry partners representing 7,400 organizations. Since it was established 100 years ago, its members have and continue to lead, manage, and work in or partner with organizations in more than a dozen association management disciplines, from executive management to finance to technology. With the support of the ASAE Research Foundation, a separate nonprofit entity, ASAE is the premier source of learning, knowledge, and future-oriented research for the association and nonprofit profession and provides resources, education, ideas, and advocacy to enhance the power and performance of the association and nonprofit community. Visit ASAE at asaecenter.org.