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]

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]