President Trump suggested Friday during the White House briefing that insurance companies should pay out business interruption claims related to the coronavirus, even if coverage for a pandemic is not explicitly included in their policy.
“If I had it, I’d expect to be paid,” Trump said of interruption insurance. “All of the sudden they need it … and I don’t see the word pandemic mentioned. Now in some cases, it is. It’s an exclusion. But in a lot of cases, I don’t see it. I don’t see reference and they don’t want to pay up. I would like to see the insurance companies pay if they need to pay, if it’s fair."
Trump added: "You have people that have never asked for business interruption insurance (payouts) and they’ve been paying a lot of money for a lot of years for the privilege of having it. And then when they finally need it, the insurance company says ‘we’re not going to give it.’ We can’t let that happen."
The President also said that his administration has already suggested to credit card companies that they should reduce their fees.