Global grit has been tested during these strange and unusual times as the coronavirus crisis has interrupted our lives and taken the world by storm. In less than 3 months, Covid-19 has become the primary topic of conversation across the globe and has most literally ‘Gone Viral’. But as the pandemic peaks and people begin focusing on financial security, it is nice to know that relief is coming from more than just the federal government. Auto Insurance carriers through the U.S. have begun issuing policy premium refunds back to policyholders.
As lawmakers finalize relief bills to stimulate a staggering economy, many business owners have looked for answers to avoid laying off employees as government mandated shutdowns have swept the nation. The common questions that has resonated with our clients: Does my insurance cover the coronavirus?
Florida is one of the most complicated insurance regions in the United States due to constant population increases, litigation propensity, and differing property landscapes ranging from new development to 18th century construction. All of this, of course, in addition to the effects of Mother Nature such as rising flood tables, varying weather patterns and natural disasters. Such an atmosphere creates the perfect storm for Florida Property Insurance companies, as it continues to keep homeowner’s insurance carriers in a hazardous financial environment.
Business owners are finding a new solution to their workers’ compensation complications. Rather than stifle their administrative staff with painstaking audits or cripple their cash flows with large premium down payments. Many employers are taking advantage of payroll reporting as an alternative to workers’ compensation billing.