MAY 12, 2020 UPDATE: Survey of State Insurance Department COVID-19 Regulatory Actions
Most bulletins this week revolved around extension of previously issued state regulatory guidance. Download the current chart here.
MAY 5, 2020 UPDATE: Survey of State Insurance Department COVID-19 Regulatory Actions
Even though certain states are starting to reopen, many insurers and producers continue to work remotely. Recognizing the practical challenges associated with a remote workforce, which are further complicated by social distancing requirements, more states are offering filing deadline extensions or…
IRS Denies Deductions for Expenses Paid with PPP Funds – For Now
In IRS Notice 2020-32 issued on April 30, 2020, the IRS has clarified that no deduction is allowed for expenses paid with funds loaned to a business through the CARES Act’s Paycheck Protection Program if payment of the expense results in forgiveness of the loan. However, members of Congress are…
May the "Force" Majeure Be With You: Is COVID-19 a Force Majeure Event?
The COVID-19 pandemic has impacted all aspects of our daily interactions. And, its effect on many businesses’ ability to function cannot be overstated. It has been devastating. As you are well aware, the pandemic has also added a number of new words and phrases to our vocabulary—“social…
APRIL 28, 2020 UPDATE: Survey of State Insurance Department COVID-19 Regulatory Actions
With the initial wave of COVID-19 reactionary regulation behind us, States continue to assess existing emergency measures and terminate, modify, or extend those measures as necessary. Some states are also expanding the availability of, or easing restrictions on, temporary producer licenses in…