Published: NESA Explorer Scholarship Program

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LSBA Looking for Mentors for Its TIP Program

Nielsen & Treas LLC is a Louisiana-based law firm that specializes in constitutional, statutory, regulatory, and insurance matters for clients living along the Gulf Coast. In addition to serving its clients, members of Nielsen & Treas LLC are also involved with the Louisiana Bar Association (LSBA), an organization whose mission is to serve the public and the legal profession.

LSBA recently released an announcement seeking volunteers for its Transition Into Practice (TIP) program. The TIP program pairs new attorneys admitted to a practice with lawyers who have at least ten years’ experience. Other qualifications to be a mentor include having no public disciplinary actions and being in good standing with the bar.

The purpose of the mentor program is to help new lawyers navigate the profession by supplementing their legal knowledge with practical guidance. The program is already set up for the mentor, and he or she is given a handbook to review. Outside the handbook, most of the information that is imparted will come from the mentor's personal and work experience.

During the mentorship, the mentor will meet with the new lawyer four times to discuss a number of topics including professionalism, work/life balance, career objectives, school debt, and ethics. These meetings can take place over Zoom or in person. For more information on the program, visit www.lsba.org/Mentoring/.

 

FEMA Revamping the NFIP’s Risk Rating System

Based in Metairie, Louisiana, Nielsen & Treas, LLC, is a law firm that focuses on flood insurance litigation. For more than three decades, Nielsen & Treas, LLC, has helped insurance clients to navigate the Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP), which provides businesses, renters, and property owners with federally backed coverage for flood damage. For the first time since the 1970s, FEMA plans to change the way that the NFIP rates a property’s flood risk and calculates insurance premiums.

According to FEMA, the NFIP’s current rating model can make the process of purchasing flood insurance a complicated and time-consuming process, an issue that the planned restructuring aims to address. Known as Risk Rating 2.0, the effort was announced by FEMA in September 2019. According to FEMA, the new methodology will increase transparency, offer fairer and easier-to-understand pricing rates, and allow insurance agents to more easily generate quotes for consumers. Additionally, FEMA intends for it to improve the accuracy of risk ratings and help consumers to become more risk-informed through individualized property assessments.

In order to accomplish these goals, FEMA is developing Risk Rating 2.0 using current technology and industry best practices. The data being used to develop it comes from multiple sources, including catastrophe models, replacement-cost data, and federal government agencies such as the United States Geological Survey and the National Oceanic and Atmospheric Administration. FEMA is also utilizing the NFIP’s existing mapping data.

Currently, the NFIP bases flood risk levels and premiums primarily on a building’s elevation and flood-zone location. According to FEMA, under the new rating system, risk-rating plans will also factor in rebuilding costs, different types of flood risks, the distance to the source of flooding, and other characteristics. Furthermore, it will adhere to statutory limits on premium increases.

FEMA plans to implement Risk Rating 2.0 on October 1, 2021. 

Published: Choosing a Civil Litigator

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Published: Choosing a Civil Litigator

I published “Choosing a Civil Litigator” on @Medium https://ift.tt/32y6TAu

Published: Louisiana State Bar Association Offers Professional Development Online

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Published: Louisiana State Bar Association Offers Professional Development Online

I published “Louisiana State Bar Association Offers Professional Development Online” on @Medium https://ift.tt/2CAOesN

Published: The Importance of Purchasing Flood Insurance Necessary

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Published: The Importance of Purchasing Flood Insurance Necessary

I published “The Importance of Purchasing Flood Insurance Necessary” on @Medium https://ift.tt/2wJfnrf

Published: A Flood Claim from Start to Finish

I published “A Flood Claim from Start to Finish” on @Medium https://ift.tt/2QurVZW

Published: A Flood Claim from Start to Finish

I published “A Flood Claim from Start to Finish” on @Medium https://ift.tt/2QurVZW