There are discussions underway at both the state and federal level about finding a way to make this pandemic a triggering event. While that would potentially bring coverage, it would have a massive effect on the insurance industry. Insurance is a product that is risk rated and sold based on those risks that are covered in the policy. This type of event was excluded from many policies, and to retroactively enact coverage would put the entire insurance industry at risk of insolvency. This move could also lead to dramatic rate increases, which could also make insurance unaffordable to businesses as we look to recover from this pandemic.
Additionally, the government retroactively amending contracts (insurance agreements) would also face significant constitutional issues and would ultimately be challenged in court.
The best option at this point may be to explore what resources are available in North Dakota and through the federal government. To learn more about disaster loans and other programs to help business owners during this difficult time, visit ndresponse.gov/covid-19-resources.