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The Latest Guidance on Paycheck Protection Program Loans

The CARES Act was passed on March 27 and established the Paycheck Protection Program (PPP), which was designed to provide temporary relief to eligible organizations. With the PPP came some confusion and room for interpretation. Guidance is being released quickly and changing daily. The Department of the Treasury and the Small Business Administration (SBA) have both issued guidance to continue to clarify answers to key questions that borrowers and lenders have.  Read more HERE.

Also:  5 Questions to ask your bank before applying for a PPP small business loan

Answers to 66 FAQ’s Regarding the New Employee Leave Laws (FFCRA)

https://www.irs.gov/newsroom/covid-19-related-tax-credits-for-required-paid-leave-provided-by-small-and-midsize-businesses-faqs

Suits Filed by 2 Illinois Restaurant Groups Against Society over Coronavirus BI Claims

https://www.insurancejournal.com/news/midwest/2020/04/03/563177.htm

If You Were Thinking That the COVID-19 Shutdown Is a Bad Time for Producers to Be Producing, You Couldn’t Be More Wrong

Check out this interview with agency owner Chris Paradiso. He explains how to use this time to your advantage, and why his producers are still closing deals.

How to Be Social While “Social Distancing”

https://www.propertycasualty360.com/2020/04/01/8-ways-to-build-relationships-while-social-distancing-414-175635/

Carriers Using Rebates, Discounts, Commission Advances, Auto-renewals, and Other Strategies to Counter Coronavirus Cash Flow Problems for Insureds and Agents

Accommodations have been announced by Allstate, AmFam, West Bend, Liberty Mutual, Chubb, GEICO, Travelers, AmeriTrust, Farmers, and more are expected to follow suit.

IBA Magazine

Insurance Journal

Chicago Tribune

WCRB Defines a “Paid Furloughed Employee” and Provides Workers’ Comp Payroll Allocation Guidance for Workers Who Are Paid-But-Not-Working

https://www.wcrb.org/misc/WCRBCovid19.pdf