Fire, yes, virus, no: Insurance coverage falls short
Business interruption insurance, designed to help in a short-term crisis, typically excludes losses due to viruses or bacteria.
Most contractors and builders must stop working
Updated state guidelines say work must stop, with some exceptions, and fines can run $10,000.
Application for disaster loans exposed business owners’ personal data
U.S. Small Business Administration said victims are being notified individually and offered free credit monitoring for one year.
LI company: COVID-19 test kits almost ready to ship
Hundreds of thousands of 15-minute COVID-19 test kits will be ready to distribute in the United States by Monday, Henry Schein said
NY top court: App-based drivers are employees
The Court of Appeals rules couriers for companies such as Postmates are not independent contractors.
SBA official: Apply for disaster loans now
“If you need help, there’s help to be had,” the official said, but acknowledged that the high volume of applications, computer glitches will slow the process.
Online disaster-relief loan applications halted amid security worries
Security concerns caused the U.S. Small Business Administration to disable the portal’s online application function on Wednesday.
NY unemployment claims rose almost 600% in one week
Over 80,500 New Yorkers sought unemployment benefits last week, according to the state Labor Department.
U.S. jobless claims soar to record 3.3 million as layoffs jump
Nearly 3.3 million Americans applied for unemployment benefits last week amid a widespread economic shutdown caused by the coronavirus.
Money safe in bank, say authorities, as some make withdrawals
“Our mantra is that taking your money out of an insured context and bringing it home is risky,” an FDIC spokesman said.