AGC of America Members,
AGC released the 5th edition of its coronavirus survey earlier today. Half of respondents reported that clients have ordered a halt to projects underway and more than a quarter report clients have canceled projects that been expected to begin. The survey did show signs that the federal Paycheck Protection Program loans are helping firms to retain, and in cases, add, new staff. Click HERE to see the survey results. Click HERE to watch AGC chief economist Ken Simonson discuss the survey findings.
The U.S. Small Business Administration (SBA) and Department of the Treasury yesterday issued new guidance (see question #31) that puts Paycheck Protection Program (PPP) borrowers and potential borrowers on notice that they should be able to prove in “good faith” that “[c]urrent economic uncertainty makes this loan request necessary to support [their] ongoing operations” to be eligible for the loan.
While there is much ambiguity in this guidance, the message is clear that AGC members should have documentation of their market uncertainty and corresponding operational need for these PPP loans when they signed the loan application. AGC of America will provide additional resources to help address member concerns about this guidance.
AGC’s ConstructorCast podcast has a new special report on the updated PPP program guidance and what it means for construction firms. You can watch it HERE and listen to it HERE.
The National Council on Compensation Insurance (NCCI) is the licensed rating and statistical agency for the workers comp insurance regulators in approximately thirty-five states. The group recently released a new set of FAQs, see HERE. Among other recommendations, NCCI is proposing that claims attributed to the Covid-19 pandemic be excluded from experience rating (Answer to Question 16). NCCI is proposing to exclude qualified sick leave and/or family and medical leave payments under the Act from the calculation of premium (Answer to Question 17). To find out whether your state is one of the many that NCCI serves, simply click HERE.
AGC’s safety team has released the first in a new series of weekly coronavirus safety tips HERE. Please review these tips with your teams and make sure to remind everyone on staff to comply with all coronavirus safety procedures. There is no margin for error, after all, when it comes to protecting workers and the public from the coronavirus. You can find the new weekly safety tips here: https://workingsafe.agc.org/weekly-safety-tips/.
As more state and local governments require workers to wear masks at all times, please send pictures of your crews working in masks so we can update AGC’s WorkingSafe.agc.org website and related materials. You can send those photos to Brian Turmail at email@example.com and Sophia Valentino at firstname.lastname@example.org.
Remember to check the AGC Connection app HERE and the AGC Coronavirus site HERE for the latest updates.