President Donald Trump on Friday staked out his position in a legal battle over business-interruption claims: Unless the policy excludes pandemics, insurers should pay.
Trump spoke about the issue for a minute and a half during his daily coronavirus task force briefing after a reporter asked if he is concerned about growing credit card debt resulting from business closures. The president said that he was and that the White House has spoken to credit card companies about reducing interest rates.
Then he moved on to the subject of business-interruption insurance.
“You have people that have never asked for business-interruption insurance and they have 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,’” Trump said. “We can’t let that happen.”
Trump said that he had purchased business-interruption insurance for some of his businesses when he was in the private sector.
“I’m very good at reading language,” Trump said. “I did very well in these subjects, OK? I don’t see 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 a reference that 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. And they know what’s fair. And I know what’s fair. I can tell you really quickly.”