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Posts tagged ENCORES Act.
Is There a Fix for COVID Business Interruption and Event Cancellations Losses on the Horizon?

The losses sustained by American businesses in the wake of the COVID-19 pandemic will be measured at a level that may never be seen again in our lifetime. On July 30th, the U.S. Bureau of Economic Analysis issued an advance estimate stating that the nation’s real gross domestic product (GDP) decreased at an annual rate of 32.9% in Q2 2020, which reportedly is the worst recorded drop in American history. It was estimated early on that “business interruption losses from the coronavirus just for small businesses in the U.S. could be between $220-$383 billion per month,” resulting ...

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