A new organization, The Business Continuity Coalition (BCC), has been set up in the United States with the aim of helping pandemic recovery by ‘working with Congress, the Administration, and other stakeholders to achieve a workable Federal program that enhances and strengthens economic recovery’.
The Business Continuity Coalition represents ‘a broad range of business insurance policyholders from across the American economy, employing millions of people’.
The Coalition supports ‘putting a Federal business continuity program in place to save jobs and prepare the US economy for government-mandated business closures. Such a program, properly structured, should address sector-specific issues that may continue to develop as a result of the current pandemic, and as a result of future pandemics or other events forcing a temporary closure of the economy’.
The BCC is advocating for a ‘public/private business continuity insurance program that, in the event of a government-ordered shutdown, will enable employers to keep payrolls and supply chains intact, helping to limit job losses and furloughs, to reduce stress on the financial system, and to speed economic recovery when government-imposed limitations on operations are lifted’.
The initial Business Continuity Coalition Members are:
- American Gaming Association
- American Hotel and Lodging Association
- American Institute of Architects
- American Resort Development Association
- Appraisal Institute
- Building Owners and Managers Association
- CRE Finance Council
- Fox Corporation
- Independent Film & Television Alliance
- Institute for Portfolio Alternatives
- International Council of Shopping Centers
- Marriott International
- Motion Picture Association
- National Apartment Association
- National Association of Broadcasters
- National Association of Home Builders
- National Association of Realtors
- NAIOP – Commercial Real Estate Development Association
- National Restaurant Association
- Nareit
- National Multifamily Housing Council
- National Retail Federation
- NCTA – The Internet & Television Association
- Sony Pictures Entertainment
- The Real Estate Board of New York
- The Real Estate Roundtable
- ViacomCBS.
