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Politicians Target Insurance Contracts

Government shutdowns are wreaking widespread economic havoc, and now lawmakers are desperate for cash to shore up businesses that may have no choice other than to close. Some suggest that insurers should pick up the tab, but without a federal backstop this will generate more long-term economic damage.

Many insurers offer protection against the interruption of business as part of property insurance. When a storm, fire or other misfortune damages property, these policies allow businesses to seek reimbursement for lost profits…

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