WASHINGTON, D.C. — David A. Sampson, president and CEO of the American Property Casualty Insurance Association (APCIA) issued the following statement in support of the establishment of the COVID-19 Business and Employee Continuity and Recovery Fund to provide additional federal assistance to businesses and workers.
“Today, property casualty insurers joined a broad coalition of our customers to advance a bold new solution to help the businesses and employees hurt by COVID-19,” said Sampson.
“We commend the Administration and Congress for passing the Coronavirus Aid, Relief, and Economic Security Act. However, additional federal relief is essential to keep COVID-19-impaired businesses solvent and employees working.
“The COVID-19 Business and Employee Continuity and Recovery Fund is an additional tool to address the economic challenges brought on by this unprecedented crisis and mitigate a larger shut down of the economy. The Recovery Fund will leverage the ability of the private sector to scale and deploy immediate liquidity to our communities.
“Property casualty insurers are in the solutions business to protect our customers – families, individuals, and business owners. We are proud to stand with our policyholders through this broad coalition spanning multiple sectors.
“Property casualty insurers will continue to work with the Administration and Congress on building out this proactive federal solution to support American businesses, employees, and the U.S. economy.”
The following organizations signed the joint trades letter. The joint trades letter is attached.
American Booksellers Association
American Hotel & Lodging Association (AHLA)
American Land and Title Association (ALTA)
American Property Casualty Insurance Association (APCIA)
Asian American Hotel Owners Association (AAHOA)
Certified Commercial Investment Member Institute (CCIM Institute)
Coalition of Franchisee Associations (CFA)
CRE Financial Council
The Council of Insurance Agents & Brokers (CIAB)
Franchise Business Services (FBS)
Independent Insurance Agents & Brokers of America (IIABA)
Institute of Retail Estate Management (IREM)
International Council of Shopping Centers (ICSC)
International Foodservice Distributors Association (IFDA)
International Franchise Association (IFA)
Mortgage Bankers Association (MBA)
NAIOP, the Commercial Real Estate Development Association
National Apartment Association (NAA)
National Association of Convenience Stores (NACS)
National Association of Mutual Insurance Companies (NAMIC)
National Association of Professional Insurance Agents (PIA)
National Association of REALTORS®
National Association of Theatre Owners (NATO)
National Franchisee Association (NFA)
National Multifamily Housing Council (NMHC)
National Retail Federation (NRF)
National Waste and Recycling Association (NWRA)
The Payroll Group (TPG)
The Petroleum Marketers Association of America (PMAA)
Real Estate Board of New York (REBNY)
The Real Estate Roundtable (RER)
Retail Industry Leaders Association (RILA)
Reinsurance Association of America (RAA)
Society of Independent Gasoline Marketers of America (SIGMA)
U.S. Travel Association
Wholesale & Specialty Insurance Association (WSIA)