Doing Business in Florida Blog

VLOG - The Peak of Hurricane Season: Why Now?

September 6, 2018
Gina Clausen Lozier  |  Hurricane Preparedness

It's now the peak of hurricane season. Hurricane season officially begins June 1, and generally, the peak is from mid-August to the middle of October. Why do we see the peak at this time of the year? Watch now to find out!

Tax Aspects of Qualified Opportunity Zone Funds – A Prequel

August 28, 2018
Mark Wisniewski and Bryan S. Appel  |  Taxation, Opportunity Zone

The Tax Cuts and Jobs Act of 2017 (the “Act”), signed into law by President Trump on December 22, 2017, created a series of new tax incentives for taxpayers willing to make long-term investments in certain qualified low-income population census tracts designated by the Governors of each State and certified by the U.S. Treasury as “qualified opportunity

The Art of Communicating with Regulators

August 19, 2018
Dawn M. Meyers  |  Government and Regulatory

As a lawyer, I am often accused of speaking “legalese.” As such, I can empathize with those in the business community who often confide in me that they have difficulty communicating with government regulators. From misunderstandings to unrealistic expectations, it is all too common for conversations with regulators to go off the rails. Given the

The Clock is Ticking on Your Hurricane Irma Loss

August 12, 2018
Christopher B. Choquette  |  Hurricane Preparedness, Insurance

The upcoming date of September 10, 2018 is an important one for Florida’s policyholders as it is the anniversary of Hurricane Irma. It also means policyholders only have two more years to report their Hurricane Irma claim, supplemental claim, or re-opened claim. In 2011, Florida’s legislature passed a law that limited the amount of time for insureds to

What if Your Insurance Company Goes Under?

August 8, 2018
Gina Clausen Lozier  |  Florida Insurance Guarantee Association, Homeowner, Insurance

With Florida’s largest homeowner’s insurance company scoring a D rating in a recent financial analysis, many may be left wondering what happens in the event their insurance company is unable to pay their claims. To protect policyholders during an insurance company’s financial collapse, the legislature created the Florida Insurance Guaranty Association

Legislature Takes Little Steps in 2018 to Reform Assignment Law

August 7, 2018
Christopher B. Choquette  |  Insurance

Assignments of Benefits (or AOB’s) have been a thorn in the side of insurance companies for the past several years. For those unfamiliar with the practice, certain professionals such as emergency mitigation contractors will require an assignment of insurance benefits from homeowners before they perform any services. Once the company completes their

Policy Changes Upon Renewal

August 6, 2018
Gina Clausen Lozier  |  Insurance

Upon your insurance policy renewal, you may recall receiving a letter from your agent or insurance company outlining the changes to your policy for the renewal term. As an example, my insurance company recently advised me that I no longer have coverage for damages caused by “marsupials”. While this small change may seem insignificant, insurance companies

Mandatory Mediation and Your Property Insurance Claim

August 5, 2018
Christopher B. Choquette  |  Hurricane Preparedness, Insurance

The mounting number of property insurance claims following Hurricane Irma has provided new challenges for Florida’s insurance companies. With close to one million hurricane claims filed across the state, insurance companies are looking towards alternative methods to resolve claims. As an alternative to litigation, insurance companies are increasingly

Did Your Insurance Company Pass the Grade?

August 1, 2018
Christopher B. Choquette  |  Hurricane Preparedness, Insurance

Weiss Ratings, an independent ratings agency, released its 2018 grades for property insurance companies doing $100 million or more premium business in Florida. The ratings are based on whether the insurance company is financially prepared for the 2018 hurricane season. The insurers that scored a Weiss Safety Rating of “A” include Cincinnati Insurance Co.

Remembering Hurricane Irma

July 31, 2018
Michael J. Higer  |  Hurricane Preparedness, Insurance

Here we are just about one month away from the one year anniversary of the hurricane known as Irma. As it approached the southern tip of Florida, it roared with the ferocity and breadth of the monster of all hurricanes. Even though it quieted somewhat by the time it made landfall in Cujo Key, it was still a devastating Category 3. Thereafter, it literally

Income Share Agreements and Higher Education

July 11, 2018
James Sattin  |  Education, Higher Education, Income Share Agreements

Knowledge is power. But what is knowledge worth? The Income Share Agreement (“ISA”), an old idea but increasingly popular financing model for higher education in America, is attempting to provide an answer. If one considers that the ISA market (both direct and secondary) is expected to rise to billions of dollars in just a few years, ISAs are worthy of

What Now? LIBOR to be Phased Out by 2021

June 28, 2018
Joshua B. Brandsdorfer  |  Financial Institutions, Financial Services Regulatory

The United Kingdom Financial Conduct Authority has announced it will phase out the London Interbank Offered Rate (LIBOR) by 2021, putting an end to the governing global borrowing index which, for the last 50 years, has supported trillions of dollars in financial instruments. LIBOR is a figure determined daily by a select group of creditworthy