On March 23, we wrote about potential insurance claims arising from COVID-19 shutdowns and disruptions that businesses could assert under the business interruption coverage in their property damage insurance. Since then, bills have been filed in several state legislatures – including Ohio – that seek to ensure that this coverage exists.
By: William K. Flynn State and local governments are taking aggressive actions to contain the spread of the COVID-19 virus, including official and unofficial quarantines, “social distancing,” stay at home requirements, and cancellation of public events. I wrote the other day addressing the potential implications of a pandemic relative to negotiated force majeure provisions commonly …Read More
On March 25, 2020, the General Assembly amended the Ohio Open Meetings Act in response to the COVID-19 outbreak (HB 197). This article details those temporary amendments.
To all clients and friends of Strauss Troy:
We hope that you remain well during these challenging times. Like you, we at Strauss Troy have been busy preparing and planning for all aspects of this unprecedented event.
Effective March 23, 2020, Kentucky Governor Andy Beshear has ordered nonessential retail businesses to close beginning at 8 p.m. and Ohio Governor Mike DeWine has issued a shelter-in-place order to begin at 11:59 p.m.
Most businesses have business interruption insurance that is one of the coverages provided in property damage policies. Business interruption coverage may or may not provide reimbursement for some of the losses sustained by businesses as a result of the coronavirus shutdown. This will depend on the exact language of the policy and the exact circumstances causing the business interruption.
The due date for filing federal income tax returns and making federal income tax payments due April 15, 2020 has been automatically postponed to July 15 2020.
Added to to stressors faced by business owners or operators during this pandemic is whether they will be able to meet contractual commitments or expect return performance by counter parties. Looking past the current disruption in every corner of the economy, businesses are going to increasingly confront questions about force majeure and related contract concepts of impracticability of performance or frustration of purpose.
The U.S. Secretary of the Treasury is providing relief to everyone who has a federal income tax payment (including self employment tax) due on April 15. The due date for those payments has been postponed to July 15, 2020.
Kentucky Governor Andy Beshear issued an executive order temporarily suspending the one-week per benefit year waiting period normally required when applying for unemployment compensation benefits for individuals whose employment is affected by the COVID-19 emergency.