Posts tagged payment


TerraBite: Heads up on Possible Rate Change in 2018

Terrafirma is about to start its fifth policy year with over 500 members, 50 covered claims, and over $1 million paid out for covered claims. Thank you, members, for keeping this shared conservation defense liability risk pool strong.

Since Terrafirma started in 2013, your premium rate has been stable because we know how dear every penny is for conservation. But inflation is picking up, costs are increasing and claims payments are growing. It is time to make sure that Terrafirma remains solvent and protects the capital and reserves that all the member land trusts have worked to establish.

The actuaries are crunching the numbers and making projections about when and how much premiums may have to increase to keep Terrafirma there for you. Our initial assessment indicates that an increase in premium fees may be necessary for the 2018 policy year. Please know, however, that the Terrafirma member-elected Members Committee and ARMS staff know that everyone is on a tight budget, and we remain committed to keeping premiums as low as possible.

We also are committed to keeping Terrafirma members informed and protected, which is why we are alerting you now about this process and timing. Thank you for all you do for lasting conservation. Let us know if you have any questions.

 

Thank you,

Leslie

 

Vet Your Expert to Avoid Huge Bills

Experts can be crucial to the result of a case – but they come with their own risks, like last-minute astronomical fees. They could even refuse to testify if they do not receive payment first. Here are some tips to avoid huge unexpected bills:

 

  • Get attorney references before hiring an expert.
     
  • Have a clear contract that holds them accountable for documenting time and resources spent, and for billing regularly.
     
  • Stay in contact and request frequent updates. You want to be able to identify problems with spending or efficiency as early as possible.

 

Based on this article from the American Bar Association.

P.S. Check out our LinkedIn for more tips and stories!

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