We are excited to announce a pair of new features that should make life a little easier for Terrafirma member-owners – two steps at a time.

1. There is a new quick and easy way to update claims on the Terrafirma website. After you submit a claim we ask that you send us updates every three months, up until now via e-mail. You can now just click the handy blue “Add Update” bottom at the bottom of each claim instead. This will make past updates easier to track, so you can see at a glance what you last wrote and when.
2. There is a new payment option! In addition to the ACH transfer option that we announced in November, you can pay via online bill pay. See details here: https://terrafirma.org/payments

Please remember that Terrafirma applications and payments are due February 3, 2020. Land trusts awaiting a February Accreditation decision receive an automatic extension to February 24.

Have questions? Please let us know. You can email us directly or call 802-262-6051 for Leslie, or 202-800-2248 for myself.

Thanks,
Hannah

Conservation Defense Coordinator
ALLIANCE RISK MANAGEMENT SERVICES LLC
(202) 800-2248  |  

You can now use Automated Clearing House (ACH) transfers to pay your Terrafirma premium. The ACH is a secure network that is all digital. Terrafirma is all online: invoices, notices, applications, policies and payments. Starting with the 2020 application period – opening on Dec. 1, 2019 and closing on Feb. 3, 2020 – ACH transfers will be the preferred method of payment.

Terrafirma’s land trust members have increased to the point that payment processing is significantly more expensive. ACH transfers are better not just for the planet, but for keeping your premium payments lower. ACH transfers are also less risky than sending paper checks through the mail, with fewer opportunities for human error and oversight. Additionally, this new system will offer easier payment tracking!

Please note that an ACH transfer is not the same as a wire transfer. Terrafirma does not accept wire transfers. While ACH is free, wire transfers incur a fee both for Terrafirma and for the land trust. Terrafirma charges a $30 processing fee for any wire transfers received.

Terrafirma cannot accept credit cards, due to the expense of both processing and administration, as well as the price of having the appropriate controls in place to address the high security risk. These costs would be passed on to you, the policyholders.

You may be able to set up ACH transfers online with your bank by creating a transfer to an external account using Terrafirma’s account information. Alternatively, you can take this information to your bank manager to set up an ACH account to pay the premium annually.

We’re excited to bring you this new payment method. Have questions about ACH transfers? Visit our FAQ page or please let us know. You can e-mail us directly or call 202-800-2248.

Terrafirma has helped land trusts like yours defend their conservation portfolios since March 2013, increasing services along the way. After almost five years of operation, 71 land trusts have used insurance coverage to address serious conservation challenges, and all Terrafirma members have enjoyed fixed premium prices. Terrafirma continues to be sound and stable. To remain so, though, rates must go up slightly in 2018.

Your elected representatives from across the county serving on the Terrafirma Members Committee, after months of deliberation and investigation, approved a modest, $3-per-parcel increase to the base premium for 2018. For more information about this process, please visit www.terrafirma.org/premium.

Terrafirma will continue to make every effort to keep future increases as low and as infrequent as possible. Currently, no other increases are planned. In the meantime, we’re here to help! Please let us know if you have any questions. You can email us directly or call 202-800-2219 for Lorri, 202-800-2248 for myself or 802-262-6051 for Leslie.

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