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1		SENATE JOINT RESOLUTION
2		WHEREAS, The ongoing COVID-19 pandemic has already
3		resulted in trillions of dollars of long-term economic losses;
4		and
5		WHEREAS, The Illinoisan business community is suffering
6		from hundreds of millions of dollars of economic losses; and
7		WHEREAS, Pandemics pose a systemic risk to the insurance
8		industry and the overall economy; the business interruption
9		loss potential from viral pandemics far exceeds the capital,
10		surplus, and premium resources of the private insurance
11		industry, making pandemic risks uninsurable in the private
12		market alone; and
13		WHEREAS, After a lengthy review of the challenges Illinois
14		faces with regards to pandemic risk, The Business Interruption
15		Insurance Task Force, including representatives from the
16		insurance industry, the National Association of Mutual
17		Insurance Companies, the American Property Casualty Insurance
18		Association, the Illinois Insurance Association, the Illinois
19		General Assembly, and the Department of Insurance, has
20		developed a variety of recommendations for federal solutions;
21		and

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1		WHEREAS, The Illinois Congressional Delegation is doing
2		incredible work on behalf of Illinois during this difficult
3		time; and
4		WHEREAS, To address the immediate financial distress of
5		businesses, we need another round of economic relief similar
6		to the CARES Act to fund the Payment Protection Program and to
7		provide additional aid to state governments for distribution
8		to small businesses through state grant programs such as the
9		Business Interruption Grant Program; and
10		WHEREAS, Illinois businesses deserve a viable option for
11		pandemic-related revenue replacement when the next pandemic
12		strikes, whether it is months or years from now; therefore, be
13		it
14		RESOLVED, BY THE SENATE OF THE ONE HUNDRED SECOND GENERAL
15		ASSEMBLY OF THE STATE OF ILLINOIS, THE HOUSE OF
16		REPRESENTATIVES CONCURRING HEREIN, that it is in the best
17		interest of Illinoisans that our congressional delegation act
18		swiftly to support the passage and implementation of another
19		round of economic relief to fund the Payment Protection
20		Program and to provide additional aid to state governments for
21		distribution to small businesses through state grant programs,
22		such as the Business Interruption Grant Program; and be it
23		further

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1		RESOLVED, That it is in the best interest of Illinoisans
2		that our congressional delegation act swiftly to support the
3		passage and implementation of a broad-based federal solution
4		that addresses pandemic risk for Illinois businesses; and be
5		it further
6		RESOLVED, That we are committed to continuing to urge our
7		congressional delegation to find ways to protect and educate
8		our business consumers, while creating an environment where a
9		vital and robust pandemic risk solution can emerge in
10		Illinois; and be it further
11		RESOLVED, That suitable copies of this resolution be
12		delivered to the President of the United States, the U.S.
13		Senate Majority Leader, the U.S. Senate Minority Leader, the
14		U.S. Speaker of the House, the U.S. House of Representatives
15		Minority Leader, and all members of the Illinois Congressional
16		Delegation.