On Friday, March 27, 2020, President Trump signed the bipartisan Coronavirus Aid, Relief and Economic Security Act (CARES Act) into law. This legislation includes financial stimulus and relief provisions for business, government entities and individuals.
Now that the CARES Act has become law, we anticipate multiple federal agencies to develop interpretative rules and implementation processes.
Our compliance team is currently reviewing the 880-page final bill to best understand how this massive new law affects the insurance policies and financial programs that we assist our clients with every day. Expect follow-up from our team early next week on this topic.