Navigating the Crisis Together: The Latest on the D.C. Grounds – 03.20.2020

News You Can Use
March 20, 2020

During this challenging period, AALU/GAMA is committed to being a trusted partner to the financial security profession by providing news, insights, and key updates that will help you, your firms, and your clients navigate the COVID-19 crisis more effectively. For the next several weeks, we will be aggregating key news stories affecting the profession and the markets, highlighting analyses of note, and bringing you regular updates from Washington. We welcome your feedback to ensure we are delivering the most relevant, useful, and timely information as developments unfold.

Federal Government Updates: What You Need to Know

>> Coronavirus Response Measures
The attached slides from Bloomberg Government reviews recent and forthcoming congressional and executive actions, as well as proposals for broader economic stimulus, aid to affected industries, and other response efforts that could lie ahead. It also includes information on federal actions taken in response to previous recessions and crises.

>> Second Coronavirus Package Creates New Emergency Leave Programs 
New emergency sick and family leave programs were established by coronavirus response legislation signed into law by President Donald Trump on March 18.

>> POLITICO’s Nightly Coronavirus Tracker
POLITICO’s intelligence briefing on how coronavirus is impacting politics and public policy, the economy and global health

>> Centers for Disease Control COVID-19: Background & Additional Information
For background and the most up-to-date information, please visit the Centers for Disease Control and Prevention

Leadership and Business Readiness: Are You Prepared?

Insurance Practice:

>> Keep Calm and Carry On (With Your Practice)
What can insurance agents do during a pandemic? Plenty.

>> How to Manage Newly Remote Teams
Hear how others might be thinking about the challenge you’re currently facing.

>> Will life insurance payout for coronavirus pandemic?
Does life insurance cover COVID-19?

>> Just 16% Of Life Insurers Concerned Coronavirus Fallout Will Be Severe
When it comes to the coronavirus outbreak, 39% of life insurers see it as being similar in severity to a SARS-like (or moderate) pandemic, according to a survey from Limra, a trade group for life insurance and financial services companies

Estate Planning:

>> Estate Planning During the Coronavirus Pandemic
Global chaos can still potentially benefit clients

>> Impact of COVID-19 on Estate Planning
The rapidly evolving coronavirus (COVID-19) crisis is creating a plethora of unique estate planning and legal challenges across the globe, particularly given the volatility of the financial markets. It also creates some unique opportunities in wealth planning. To learn more about some strategies you may wish to consider.

Bank Clients and Banking Sector:

>> The COVID-19 potential implications for the banking and capital markets sector
Maintaining business and operational resilience
Deloitte Center for Financial Services has a new report out, looking at the many different impacts of COVID-19, across a number of dimensions, for banks and capital markets firms.

Advisor to Advisor: The New AFR Rate Can Help Your Clients Today 

Check out the latest podcast with AALU Member Jim Hebets, President and Founder of The Hebets Company, an NFP Company, as he joins AALU CEO Marc Cadin for a conversation on how he’s helping his clients through the difficult time, specifically focusing the historically low Applicable Federal Rate (AFR) recently announced by the IRS and the significant impact it could have on planning for your clients and marketplace.

Jim also provided a letter for you or your firm to share with your clients informing them that they may be able to take advantage. Access that letter here.

News and Resource Listings: Beyond the Basics

>> Interim Guidance for Businesses and Employers

>> Information for Communities, Schools, and Businesses

>> Environmental Cleaning and Disinfection Recommendations – Community Facilities

>> SBA: COVID-19 Resources

>> DOL: Guidance for Preparing Workplaces for Coronavirus

>> DOL: OHSA Resources for Workers and Employers on COVID-19

>> WHO: Get Your Workplace Ready for COVID-19

>> CISA: Risk Management for COVID-19

>> EPA: Disinfectants for Use Against COVID-19

Take me back to the COVID-19 Action Center 

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