March 2020 - Wyman Legal Solutions

CARES Act Small Business Paycheck Protection Program Loans

CARES Act Paycheck Protection Program Loans highlights for small businesses. Official Senate FAQ’s where this information was obtained available right here:

Paycheck Protection Program (PPP) Loans: The program would provide cash-flow assistance through 100 percent federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans would be forgiven, which would help workers remain employed, as well as help affected small businesses and our economy snap-back quicker after the crisis.

PPP has a host of attractive features, such as forgiveness of up to 8 weeks of payroll based on employee retention and salary levels, no SBA fees, and at least six months of deferral with maximum deferrals of up to a year. Small businesses and other eligible entities will be able to apply if they were harmed by COVID-19 between February 15, 2020 and June 30, 2020. This program would be retroactive to February 15, 2020, in order to help bring workers who may have already been laid off back onto payrolls.

Loans are available through June 30, 2020. See the Full version of the CARES Act here.



Many businesses have seen, or are expecting to see, a loss of income or an increase in expenses due to the slowdown of business activities associated with the spread of COVID-19. Are these losses or expenses covered by your business interruption insurance?

Business interruption insurance coverage is a part of most commercial property insurance policies. It covers loss of business income if there is “direct physical loss or damage” to your insured business property. And then, only if the physical damage was caused by a covered peril <> . An interruption in business not caused by physical damage to your property is usually not enough to trigger coverage. Also, many policies specifically exclude losses claimed from viruses and epidemics.

However, some policies contain additional coverage not seen in the typical policy. For example, some policies provide coverage if a “civil authority” prohibits access to your business premises as a result of property damage elsewhere. Other policies provide coverage if a critical supplier cannot provide you with the supplies you need to carry out your business, even if your property did not suffer direct damage. Again though, these coverages are generally only triggered if physical damage occurs somewhere.

Although losses from viruses and epidemics are usually specifically excluded under policies, insurance has evolved over the years to provide specialized coverage options for almost any imaginable circumstance. As with all business insurance coverage questions, your specific industry, your policy language and the circumstances of the loss will dictate if you can get reimbursed for the interruption of your business.

If you believe that your insurance should be responsible for your COVID-19 related business losses, call our office to speak with our experienced business interruption insurance attorneys today.

Insurance Case Study #3: Eduardo Gets a New Roof

Our Client Eduardo lives in Fort Myers. Eduardo’s roof was damaged in Hurricane Irma. Eduardo’s insurance company agreed that covered damage occurred from the Hurricane but paid him nothing. According to his insurance company, the damage did not exceed his deductible. Eduardo was angry, and he called us.

Although Eduardo’s roof damage was not widespread, we brought in a roofing engineer to evaluate his roof.  The engineer concluded that the roof damage could not be repaired because the roofing tiles on Eduardo’s roof were no longer manufactured. As a result, any replacement tiles would not match as required by Florida law. We disputed the insurance company’s conclusion with a professionally prepared report. We demanded that the insurance company pay Eduardo to replace his entire roof. And they did.

At Wyman Legal Solutions our team has the resources and knows the laws that make recoveries like this possible for our clients. Contact us today so we can help turn your property damage from “sudden and unexpected” into an insurance claim that is COLLECTED!

Insurance Case Study #2: Margie’s Leak Under Her Slab

Our Client Margie began noticing loose floor tiles and discolored grout lines in her living room. Margie had a pipe leak under her home’s concrete slab. Margie opened up a claim with her insurance company. The insurance company’s adjuster came out to her house and estimated $4,200 in damage. After her $2,500 deductible, the insurance company paid her $1,700.

$1700? That wasn’t even enough to pay the plumbers to temporarily reroute her water line so she could at least have running water in her bathroom!

Margie hired us to get her the money she deserved, and we went to work. First, we hired a loss consultant and cost estimator to thoroughly inspect her property to properly value her claim. Her “$1,700” claim was actually worth almost 6 figures!! Then we engaged an appraiser and put the claim through the insurance policy’s appraisal process. At the end of the day, Margie’s claim was valued at over $85,000, which provided her with the money she needed to repair and rebuild her damaged home.

At Wyman Legal Solutions we have the resources and professional relationships that make recoveries like this possible for our clients. Contact us today. Let us turn your property damage from “sudden and unexpected”, into an insurance claim that is COLLECTED!