(Reuters) – A federal judge in Missouri said on Wednesday a group of hair salons and restaurants can sue their insurance carrier for business interruption losses caused by the coronavirus pandemic, which they say caused a “direct physical loss” to their premises.
The decision against Cincinnati Insurance Co by U.S. District Judge Stephen Bough in Kansas City appears to be first victory for policyholders suing insurers for improperly denying claims related to shutdowns caused by COVID-19.
Insurers had won similar cases in courts in Michigan and Washington, D.C., successfully arguing that coverage was not warranted because the virus travels through the air and does not cause physical damage.
In refusing to dismiss the Missouri case, Bough said the presence of COVID-19 was not a “benign condition,” and the plaintiffs plausibly alleged that particles were a “physical substance” that attached to and damaged their property, rendering them unsafe and unusable.
Health insurance came after the Great Depression, so what will happen to healthcare after coronavirus?
While telemedicine is growing in times of Covid-19, the healthcare industry isn’t immune to the recession. The global pandemic has reduced inpatient visits by almost a third, has insurance providers knocking at Congress’s door, and plummeted the FTSE All Share by about 20 per cent. But what sounds like a bad diagnosis is actually a ripe opportunity to cure the healthcare industry’s chronic resistance to digital medicine and healthcare e-commerce.
It’s a rare opportunity too. Recessions have fostered some of the most impactful businesses in history – GE, HP and Disney among them – but the healthcare industry hasn’t wavered enough since the Great Depression, which we can thank for bringing us health insurance, to pose an opening for real disruption.
While healthcare isn’t entirely recession-proof, it’s much more resilient than other industries in the face of economic uncertainty. The industry’s unemployment rate was affected
One-third of small businesses are relying on personal funds to stay afloat during the coronavirus pandemic and subsequent economic lockdown, according to new findings published Thursday.
A CreditCards.com report found that 35 percent of small business decision-makers said either they or their businesses’ owners have used their own money to help the business survive the crisis. That includes 24 percent who say they or the owners used a personal credit card and 21 percent who tapped a personal savings account since March.
HALF OF US JOBS LOST TO VIRUS COULD BE GONE PERMANENTLY, POLL FINDS
Still, small businesses also turned to other resources during the virus outbreak: About 30 percent of respondents said they applied for and received loans through the taxpayer-funded $670 billion Paycheck Protection Program. If at
Officials are moving closer and closer to a deal that would put more money directly into your pocket as the country continues to struggle with the coronavirus pandemic.
Senate Majority Leader Mitch McConnell (above) and his fellow Republicans have introduced a relief package that includes a repeat of those popular “stimulus checks” of up to $1,200 that most Americans got earlier this year. And this time, families would get bigger payouts.
The proposal is very similar to one the Democratic-controlled U.S. House passed a couple of months ago — but not close enough to avoid congressional bickering that could keep you from getting your money quickly.
Here’s what we know about the timing of the next round of checks, direct deposits and debit cards.
How the second stimulus checks are shaping up
Until recently, the goal of early retirement was a lofty one. But with the chaos caused by the coronavirus pandemic, some older workers are being pushed into retirement ― whether they’re ready or not ― minus the sandy beaches and financial freedom.
During past recessions, it was common for older employees to drop out of the workforce completely rather than try to compete for new jobs. But now, there’s even more pressure to abandon working life.
“Since this is a global health pandemic, it has added a layer of complexity not seen in past recessions,” said Jeffrey Lewis, a financial advisor with Savant Wealth Management. Some older workers may be less inclined to return to the office for fear of contracting the virus themselves, or bringing it home to their spouse or kids who may have an underlying health condition, Lewis said. “If employers are not able to meet
As coronavirus continues to spread, an increasing number of movies are delaying or suspending production. As the number of impacted movies grows, TheWrap felt it would be most informative to keep a running list. The CDC as of Thursday is reporting just over 10,400 cases in the U.S. alone, with 150 people reported dead from the COVID-19 virus.
“No Time To Die”
“MGM, Universal and Bond producers, Michael G Wilson and Barbara Broccoli, announced today that after careful consideration and thorough evaluation of the global theatrical marketplace, the release of No Time to Die will be postponed until November 2020.
“A Quiet Place Part II”
“A Quiet Place Part II” is the latest movie to shift its release plans, as director John Krasinski announced on Instagram that the film will delay its release to the horror sequel amid the growing spread of the coronavirus around the globe.
“Peter Rabbit 2:
Microsoft’s recent earnings report revealed a company that’s not feeling the impact of the pandemic directly on its balance sheet. The company — which has been growing rapidly in recent years on the back of its huge cloud computing segment — posted a 13% increase in revenue compared to the same period in 2019, beating analyst expectations for sales and profits. Revenue growth for their cloud segment Azure was an eye-popping 47%, which was actually a slowdown from the 59% posted the quarter before.
Microsoft’s big report showcased how the coronavirus pandemic isn’t the same for every business. Plenty of companies have seen a huge boost in sales and profits as many Americans change their consumer behaviors to protect themselves from COVID-19, and they’re reaping the benefits even as many other businesses have been forced to close or make costly adjustments to their business model to stay open.
Leaders of historically Black colleges and universities are grappling with a challenge others in higher education don’t fully share: how to reopen their campuses to a population that has proven especially vulnerable to Covid-19.
Black people are dying at 2.5 times the rate of white people, according to the Covid Racial Data Tracker. And nearly a third of deaths among nonwhite Americans were in people younger than 65, according to data from the Centers for Disease Control and Prevention, compared with 13 percent among white people under that age.
“We have to acknowledge and recognize that African Americans with comorbidities have fared far worse in this pandemic than any other group,” said Howard University President Wayne A.I. Frederick in an interview. “I think, for an HBCU in particular, there’s a lot of differences in terms of opening that are probably a little more accentuated because of our circumstances.”
With the fate of college sports this year still unknown due to the COVID-19 pandemic, Arizona State swimming and diving coach Bob Bowman isn’t going to take any chances.
Bowman announced on Sunday that they are going to redshirt the entire men’s and women’s swimming and diving teams for the 2020-21 season, according to Sports Illustrated’s Pat Forde.
[ Coronavirus: How the sports world is responding to the pandemic ]
The team will simply train throughout the year — either separately or together on campus, depending on how the outbreak progresses — and then resume competing next season.
“All our swimmers lost their NCAA [championships] last year,” Bowman said, via Sports Illustrated. “I’m not willing to let them lose two.”
‘The hardest part is no clarity’
Both the Big Ten Conference and the Pac-12 Conference have already announced that they will play conference-only schedules this fall because of the coronavirus.
In his “last lifetime,” Travis Vu closed his hair salon after the coronavirus forced state leaders to impose a lockdown in a reeling California in late March.
The casually stylish Vu, 47, turned off the lights on the custom metal and concrete chandeliers gracing his industrial six-seat space. He stayed home, slept, exercised, whipping up grilled garlic shrimp and broken rice dishes to sell on the side until regulations allowed him to reopen in early June. That’s when he dipped into savings to stock up on sanitary supplies, welcoming back clients with stringy locks, worn-out perms and graying heads.