Minister Morneau - Ensure insurers cover business interruption policies

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Dear Minister Morneau,

Thousands of Canadian small business owners have had to suspend operations in the face of the COVID-19 pandemic. Many of these individuals have paid for Business Interruption Insurance and are being denied this coverage by their insurers. Could the Federal Government help provide funding to the insurance companies specifically for this coverage, rather than merely offering loans through BDC and large banks? If the insurers were to meet their obligations, then many small business owners would not require emergency loan funding. It seems that 6 months of rent and utilities protection would be a sensible investment to protect many jobs in future.

The economic aftermath of the pandemic will be significant. Adding to the debt burden of Canadian small business may only serve to put them out of business, further delaying the country's economic recovery.

Sincerely,

Jana Veltheim

Owner Align Massage Therapy