On June 18, 2020, the Occupational Safety and Health Administration (OSHA) released guidance to help employers plan how to reopen nonessential businesses. The guidance also addresses issues employers should consider as they ask their employees return to work during the COVID-19 pandemic. OSHA’s guidelines for reopening nonessential businesses provide general principles for updating restrictions that were originally put in place to slow the spread of the coronavirus. OSHA’s publication includes charts, examples and illustrations of how safety principles can be implemented for reopening. Specifically, this new guidance covers: How to plan a reopening OSHA standards and required protections in the workplace Available OSHA assistance programs Answers to employer frequently asked questions. OSHA has stated that this new guidance is meant to supplement the White House’s Guidelines for Opening Up America Again and the Guidance on Preparing Workplaces for COVID-19 developed by the U.S. Departments of Labor and Health and Human Services. A as a result, businesses should follow local timelines and phased reopening plans as they implement OSHA’s guidance. Employers should also continue to monitor federal, state and local updates about community disinfection, best practices and transmission mitigation measures. For example, employers can visit OSHA’s coronavirus webpage and the Centers for Disease Control and … Continue reading Nonessential Businesses Reopening – OSHA Guidance

As a business owner, your commercial property needs can change over time to help meet operational requirements and satisfy customer demands. Specifically, expanding your business will likely require you to obtain additional property. When acquiring additional business property, however, it’s important to reassess your commercial insurance coverage and ensure you will remain adequately protected following such an expansion. Fortunately, the newly acquired or constructed property extension found in many commercial property policies can offer temporary protection in these situations. Review the following guidance for an outline of key coverage features and limitations for the newly acquired or constructed property extension. Key Features of the Newly Acquired or Constructed Property Extension At a glance, most commercial property policies offer newly acquired or constructed property coverage as an extension of your existing building or business personal property insurance. This extension can provide protection for commercial property that you acquire throughout your existing policy period. You can typically apply the newly acquired or constructed property extension to your existing building insurance policy in the following situations: When you construct a new building—If you decide to construct a new building for your business, this building should be covered by the extension—as long as it’s … Continue reading Newly Acquired or Constructed Property Extension

Since being established as part of the Coronavirus Aid, Relief and Economic Security Act in March 2020, the Paycheck Protection Program (PPP) has been the subject of additional stimulus bills, legal guidance and interim final rules. In the latest development, Congress passed the Paycheck Protection Program Flexibility Act of 2020, which is a bill that provides borrowers with greater flexibility in spending PPP funds without compromising forgiveness eligibility. President Donald Trump signed the bill into law on Friday, June 5, 2020.   What is included in the PPP bill? The bill, which passed with a bipartisan vote, makes the following amendments to the PPP to provide relief to borrowers: Loan repayment terms—The bill extends the minimum loan term for unforgiven PPP loans from two years to five years. Payroll costs vs. nonpayroll costs— For forgiveness eligibility, the bill reduces the portion of PPP funds that must be spent on payroll costs from 75% to 60%, and raises the nonpayroll cost limitation from 25% to 40%. Covered period extension—The bill extends the covered period during which borrowers must spend the PPP funds to be eligible for forgiveness from eight weeks to 24 weeks from the date of origination of the loan. Payroll … Continue reading President Trump Signs Bill Amending PPP Into Law