During the second week of March, I started getting concerned about business loss insurance for the clients I serve. I wasn’t worried if we had it – most have that coverage. The question was, “Was it excluded by the carrier?” This week’s guest on the podcast helps us to unpack that question and many more about this coverage.
Key Points in the Interview
Our guest was an insurance industry expert, Jake Taylor. Jake is a former insurance agency owner, and he’s currently a producer and partner with Winter-Dent based in Jefferson City Missouri.
Here are a few of the key points from that discussion:
- What is loss of income insurance?
- What is an exclusion?
- If an exclusion exists, is it possible carriers could possibly have to pay claims?
- From an insurance perspective, how does this crisis compare to 9-11?
- Should owners start the claims process right now?
Two CFOs Talk Shop on Provisions of the SBA 7a Program
We recorded our show just a few hours before President Trump signed into law the $2 trillion stimulus package which includes expanded provisions for both the SBA 7a and Express programs. The discussion included:
- How Bruce’s company is handling the insurance claims process
- Loan packaging preparation
- Loan packaging
- Book and show ideas to keep the mind fresh