Terrafirma’s annual membership confirmation opens on Dec. 1. Here are some important points to make it easier for you:
1. NEW changed P.O. Box address to mail premium payments. Terrafirma has a new P.O. Box and will post the address as part of the application. Please use the new P.O. Box address for the 2023 premium payment to Terrafirma. Please notify your accounts payable to update their vendor list and change the Terrafirma address to use the new P.O. Box address.
2. Terrafirma’s premium increased from $63 per insured parcel to $67 per insured parcel. As highlighted in the May 2022 Terrabite, the Members Committee voted to increase Terrafirma’s premium from $63 per insured parcel to $67 per insured parcel effective for policy year 2023. The premium for land trust back-up holders or third-party enforcers increased from $31.50 per insured parcel to $67 per insured parcel. Current premium discounts and coverage limits remain the same.
3. Risk management discount opportunities are still available. To receive the Terrafirma risk management discount on your 2023 policy, one member of your land trust will need to attend an approved risk management course. An approved risk management course must be completed every year to qualify for the risk management discount for the coming policy year and discounts cannot be retroactively applied. Here are some upcoming risk management events:
- Online Risk Management plan creator
- Register now for these free webinars (each webinar is scheduled for 3-4PM EST):
If you have any questions, please let me know. You can email me directly or call 802-249-7147.
Operations Manager and Secretary
Alliance Risk Management Services LLC
Manager for Terrafirma Risk Retention Group LLC