Insurance coverage and COVID-10 losses

Insureds should be aware that insurance companies will likely receive a massive number of COVID-19 claims. Insureds should expect insurers to apply heightened scrutiny to COVID-19 claims, require strict compliance with policy conditions, narrowly interpret coverage and exclusions under the policy to exclude COVID-19 claims, and specifically exclude COVID-19 claims from policies during renewal. [More]

Planning for the future during the COVID-19 outbreak

When you become very ill and are no longer able to make decisions for yourself, a Declaration of Living Will can speak for you. This document, drafted when you are healthy and of sound mind, outlines the types of medical procedures and treatments you are wiling to undergo or not willing to undergo when you are essentially on your death bed. [More]

Arkansas small businesses now eligible for Economic Disaster Loans

A pandemic can strain a small business's financial capacity to make payroll, maintain inventory, and respond to sudden drops in the market. The United States Small Business Administration (“SBA”) works with state governors to provide loans to support small businesses in times of economic disaster. A small business, small agricultural cooperative, small business engaged in aquaculture, or private non-profit organization may borrow up to $2 million for economic injury caused by COVID-19. The interest rate is 3.75% for small businesses and 2.75% for non-profits. [More]

What the Families First Coronavirus Response Act means for your business

In response to the COVID-19 pandemic, President Trump signed the Families First Coronavirus Response Act (the “Act”) into law on March 18, 2020, and it takes effect no later than April 2, 2020—15 days from enactment. The law significantly increases paid leave requirements on employers with fewer than 500 employees and then offsets that burden with payroll tax credits. [More]