Abundunza!
1. Remember when Joe Biden said that the President needed to stop saying whatever popped into his head? This is the kind of thing he was talking about.
He suggested last week during the White House briefing that insurance companies should pay out business interruption claims related to the pandemic, even if coverage for such an event is not explicitly included in their policy. Trump said regarding insurance for an interruption of business,
“If I had it, I’d expect to be paid. 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….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.”
Ugh. Insurance doesn’t work like that and can’t work like that, though I’m sure, as a businessman, Trump would take a shot at trying to make such a case. It is irresponsible, however, to misinform the public that such a claim would be reasonable. Insurance companies should have to meet their contractual obligations; Trump’s theory would cause premiums to explode. Continue reading








