TerraBites
A short newsletter of bite-size ideas to chew on for Terrafirma owner-member land trusts, released January, February, May, June, September, October and November.
December is here and it is time to start your Terrafirma application for 2021. I know how busy you are with year-end closings on top of the extra work that 2020 has brought. Leslie and I are here to make the process as smooth and easy as possible, so please email or call us with any questions.
Your land trust’s current Terrafirma policy ends March 1, 2021. Coverage continues only if you reconfirm eligibility and pay for a 2021 policy on the Terrafirma website. The confirmation period began December 1 and ends February 1, 2021.
It’s as easy as 1-2-3!
- Reconfirm your eligibility
- Add or remove parcels if necessary
- Click the “submit” button and pay (see details here)
Once you update, the 2021 coverage period continues from the original policy date. Everything is online; Terrafirma does not send paper invoices, notices, applications or policies. Please remember to file a Claim for any possible problems that you discovered this policy year, even if you are unsure about the issues.
Awaiting the February decision from the Accreditation Commission?
If you are awaiting your February accreditation decision for the first time, don't hit that submit button just yet! Please fill out your application and then hit "submit" once your decision is received. There is an $11/parcel accreditation discount that we don't want you to miss.
Something new this year
Much has changed in Terrafirma’s eight years of operation, and it is time to vote on a new operating agreement. The elected Members Committee for Terrafirma unanimously recommends that you vote to adopt the Third Amended And Restated Limited Liability Company Operating Agreement For Terrafirma Risk Retention Group LLC. When you fill out your online application you will see the request for your vote, along with a summary of the proposed changes and details of the proposed amendments.
Stick with it!
We know that these are uncertain times and money is always tight. Your conservation defense insurance coverage is a sensible way to reduce some of that uncertainty.
Risk Management discount still available
If you have not yet attended a webinar on Risk Management to get your 2021 Terrafirma dollar-per-property discount, there are two more. Or you can take the online Risk Management Course for the $1 discount per property.
We’re here to help! If you have any questions, please let us know.
Sincerely,
Hannah
Hannah Flake
Conservation Defense Coordinator
ALLIANCE RISK MANAGEMENT SERVICES LLC
(202) 800-2248 |
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P.S. With the conservation easement closing season upon us, you may want to scan the drafting pointers on The Learning Center in the Conservation Defense library collection of Practical Pointers. Remember to include a comprehensive costs and fees collection clause. See the Terrafirma suggested clause in the drafting pointers
The pandemic presents unprecedented challenges for monitoring and enforcement. Terrafirma takes these special circumstances into account so that you can focus on staying safe. Please document any deviations from standard procedures and anything that might affect your eligibility requirements for Terrafirma this year.
We highly recommend that you read Conservation Stewardship in the Time of COVID-19 on the Land Trust Alliance Learning Center for tips on proceeding with essential work while managing risk.
Most importantly for your Terrafirma coverage, remember to file a claim for any issues discovered during the 2019 policy period (March 1, 2019 to March 1, 2020) by April 30, 2020. The grace period end date of April 30 never changes, so you can add a recurring calendar item for each year so you don’t forget!
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 |
People who love land also tend to be optimists who see the best in people. We believe in settling disputes through courtesy, perseverance, and rational thought – keeping interactions sweet, not salty.
You can work through issues together and file a claim with Terrafirma immediately, at the very first hint of a disagreement or problem. Filing a claim with your conservation defense liability insurance might feel like an aggressive last resort, but it should be one of your first moves. Terrafirma does not notify the other party that a claim was filed, and you can keep the claim on hold while you try to reach an amicable resolution. This way, if you need assistance later on, you don’t need to worry about a claim not qualifying for coverage because it was filed too late.
You can have your cake and eat it too! Hold your place in line by filing a Terrafirma claim, then move ahead confidently knowing that you have a backup plan in place. Wondering when sweet as sugar language needs some salt? See our newly revised When to Shift Gears.
Lastly, please remember that the grace period for the 2019 Terrafirma policy period ends on April 30. File any claims for lingering issues that were first discovered between March 1, 2019 and March 1, 2020 by that day.
Have questions? Please let us know. You can email us directly or call 802-262-6051 for Leslie, or 202-800-2248 for myself.
When was the last time your organization reviewed your stewardship policy? If it was pre-Terrafirma, it may be time to take another look.
Your policy likely describes how stewardship reserves are set, and it may advise landowners that the funds will be segregated and used only for monitoring and enforcement, not for daily operations of the land trust.
If you have Terrafirma coverage, you might consider adding language that makes it clear if:
- Reserves may include a contribution of premium for the Terrafirma policy as part of the initial funding
- Some of the stewardship funds will be used to pay for Terrafirma policies covering not only easements, but the land trust’s own fee properties
Have questions about policy drafting or anything else? Please let us know. You can email us directly or call 802-262-6051 for Leslie, or 202-800-2248 for myself.