Big “I,” APCIA and NAMIC released a plan to create the Business Continuity Protection Program (BCPP) to bolster the country’s economic resilience in the event of a future declared health emergency.
Companies that do not already meet laws protecting employees from sexual orientation discrimination may need to make changes to ensure compliance.
The statement from the Treasury Department and Small Business Administration includes clarification on loan forgiveness for Paycheck Protection Program borrowers.
The bipartisan Paycheck Protection Program Flexibility Act was strongly supported by the Big “I” and will create additional flexibility for Big “I” members and their clients.
The program is authorized to provide $600 billion in financing to small and mid-size businesses to help maintain operations and payroll.
As businesses begin reopening, the Big “I” joined a number of business organizations in signing a letter sent to all members of Congress on the need to enact temporary and targeted liability protections.
As Congress and the Trump administration look for ways to help the economy rebound from the COVID-19 pandemic, the Big “I” is continuing to advocate for legislation that will help independent agencies.
The legislation would create a federal backstop to prevent economic losses from future pandemics, with the government sharing the burden alongside the insurance industry.
With high levels of community involvement even before the coronavirus pandemic, many independent insurance agents are the first to meet their community’s needs caused by a crisis.
The program is designed to bolster the country’s economic resilience by providing timely and efficient financial protection and payroll support to the private sector in the event of a future declared public health emergency.