Closed signs on a fast food restaurant on April 24 in New York City. Photo: Alexi Rosenfeld/Getty Images

Restaurants, casinos and barbershops are suing insurers in an attempt to regain losses caused by staying closed through stay-at-home orders, AP reports.

Why it matters: The survival of thousands of businesses are on the line if insurers refuse to pay — and big-name insurance companies risk massive financial hits if they accept the millions of claims.

The big picture: The $349 billion cap for small business loans for the coronavirus stimulus was reached last week, taking less than two weeks to run out.

What's next: If the coronavirus caused "direct physical damage" in or near a business, small business owners have a greater chance of success in their case against insurers, per AP. But proving that the virus was on the premises could prove challenging for plaintiff attorneys.

  • "It’s a question courts haven’t definitively answered," AP reports.

Go deeper: How many big companies got PPP loans

Go deeper

Top Fed official: Short, sharp coronavirus lockdown will enable recovery

Minneapolis Federal Reserve Bank president Neel Kashkari in New York City last October. Photo: Roy Rochlin/Getty Images

A top Federal Reserve official told CBS Sunday that a "really hard" four- to six-week lockdown could benefit the U.S. economy as Congress "has the resources to support those who are most hurting" during the coronavirus pandemic.

Details: Minneapolis Federal Reserve Bank president Neel Kashkari said a short lockdown "could get the case count down so that our testing and our contact tracing was actually enough to control it the way that it's happening in the Northeast right now."

Aug 3, 2020 - Health

The pandemic hasn't hampered the health care industry

Illustration: Rebecca Zisser/Axios

The economy has been tanking. Coronavirus infections and deaths have been rising. And the health care industry is as rich as ever.

The big picture: Second-quarter results are still pouring in, but so far, a vast majority of health care companies are reporting profits that many people assumed would not have been possible as the pandemic raged on.

What's next in coronavirus stimulus negotiations

White House Chief of Staff Mark Meadows (C) and Treasury Secretary Steven Mnuchin (R) depart from a meeting with Senate Republicans on the latest stimulus bill, July 29. Photo: Caroline Brehman/CQ-Roll Call, Inc via Getty Images

Politico's Playbook, which has published numerous scoops from inside the COVID-19 stimulus negotiations, reports the latest from Capitol Hill:

The big picture: "There are a set of policy areas where stumbling blocks remain. Democrats want new money for the Postal Service, new money for elections and nearly $1 trillion for state and local governments. Republicans seem open to USPS money to address operational shortfalls, but they are a hard no on money going to a new mail-in balloting system."