MSNBC interview: https://www.cnbc.com/video/2020/04/16/chubb-ceo-forcing-insurers-to-pay-pandemic-loss-claims-is-plainly-unconstitutional.html Key points: “You can’t just retroactively change a contract. That is plainly unconstitutional,” Chubb CEO Evan Greenberg said about state efforts to extend business interruption insurance to the coronavirus pandemic. “Most catastrophes, like a hurricane or an earthquake, are limited by geography or time,” Greenberg said. “Pandemic is very different. ... It has no geographic bounds, it has no time limit.” “The only one who could really take the infinite nature, financial nature, of that is the government,” he said. State lawmakers have made efforts to extend business interruption coverage to coronavirus-related insurance claims, but the head of a leading commercial real estate insurer is objecting to those moves. Chubb CEO Evan Greenberg, in an interview on CNBC Thursday, said state governments can’t force insurance companies to cover incidents not included in the policy, leaning on the U.S. Constitution for support.
