Sweet Relief: Stimulus Bill Would Confirm PPP Borrower Tax Relief – Consolidated Appropriations Act of 2021

On December 21, 2020, Congress passed the much anticipated COVID-19 relief legislation (Consolidated Appropriations Act, 2021 (“CAA, 2021”), sending the bill to President Donald Trump to sign. In CAA 2021, Congress delivered clarity to PPP loan borrowers in confirming that business expenses paid with the…
Continue Reading

The Brown Recluse and Hope for Pandemic Shuttered Missouri Businesses: Business Interruption Policies May Cover COVID-19 Losses

In one of our prior blogs, we predicted the first round of COVID-19 business interruption coverage litigation would battle over the issue of whether closure orders result in “physical loss or damage” sufficient to trigger coverage. Indeed, one of the first courts to have considered…
Continue Reading

How a 100-Year Pandemic Causes “Direct Physical Loss” and Triggers Business Interruption Insurance Coverage

Since the outset of the COVID-19 pandemic, the insurance industry has told anyone who will listen that business interruption insurance coverage is not available for coronavirus-related claims because there is no “direct physical loss or damage” necessary to trigger coverage. While insurers insist that direct…
Continue Reading