Chubb Pandemic Coverage Plan Exposes Industry Split

Insurer Chubb and Democratic lawmakers have found common ground on a public-private plan for businesses to get pandemic insurance, but the rest of the industry isn’t on board.

Zurich-based Chubb, one of the world’s largest insurers, introduced a plan July 8 that would have the U.S. government share a large portion of business interruption coverage for companies and small businesses harmed by the coronavirus and future pandemics.

The Chubb plan, modeled in part on the Terrorism Risk Insurance Program, has many similar features with a plan offered in May by Rep. Carolyn Maloney (D.N.Y), the Pandemic Risk Insurance Act.

But ...