Insurance coverage and COVID-19 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]

Employers and Coronavirus

The CDC has provided interim guidance for businesses and employers to plan and respond to COVID-19.[5] The CDC will update the interim guidance as needed so employers should periodically check the CDC website for new information.

Sick employees should be actively encouraged to stay home. Employees who have symptoms of acute respiratory illness are recommended to stay home and not come to work until they are free of fever (100.4° F or greater using an oral thermometer), signs of a fever, and any other symptoms for at least 24 hours, without the use of fever-reducing or other symptom-altering medicines. Employees should notify their supervisor and stay home if they are sick. [More]

Estate Planning and Business Planing Under the New Tax Law

The Tax Cuts and Jobs Act, signed into law on December 22, 2017, impacts everyone. All business owners should analyze how the new law impacts their cash flow and growth strategies. And everyone . . . everyone, should review their estate plans for opportunities to simplify their estate plans and focus on their current estate planning needs. [More]