Nomination Statement for Pacific Coast Region Candidate Eliot Hudson

Conserving land is a singular priority for me. I accepted the nomination to serve on the Terrafirma Members Committee because I see Terrafirma as an integral and vital protection for the sustainability of conservation interests by land trusts throughout the country.  All of the several nonprofit organizations with which I have been associated have operated on constrained budgets.  None of them have had the resources to finance significant adversarial disputes, particularly litigation, but on occasion such disputes arise.  Dealing with them effectively is necessary to fulfill the organization’s mission.  Land trusts are no different.  Without the ability to defend the property rights they have painstakingly acquired, land trusts would often not able to adequately protect those rights.  Fortunately, such disputes do not seem to occur frequently, but one of the most critical aspects of effective risk management is to plan to have the ability to address rare and potentially catastrophic events.  The property rights coverage provided by Terrafirma is broader than is available under traditional commercial insurance policies.  Terrafirma can provide expertise concerning property disputes that many land trusts would not otherwise have readily available.  Well-managed risk retention groups are generally able to provide protection at lower cost than for-profit insurers.  Finally, on a conservation policy level it is important to establish that land trusts cannot be victimized by unscrupulous opponents. 

I believe I can contribute to Terrafirma’s goals on a professional level.  I have spent much my career as an attorney involved in issues confronting the insurance industry.  I have counseled major national and international liability insurance companies in a variety of contexts.  I have handled many hundreds of insurance claims, many of which were litigated, against both insureds and insurance companies.  I have drafted insurance policy language.  I have provided training to insurance brokers and claims personnel.  I have had experience with a wide variety of insurance coverages for general liability, professional liability, directors and officers and other risks.  I have had significant experience with reinsurance markets.  Although I am not a broker, underwriter or risk manager, I have gained insights into the issues with which they deal.  A risk retention group like Terrafirma shares many of the same issues as the insurance industry.  I understand the necessity of sound underwriting practices, timely and accurate claim reserves, expert claims handling, selection of appropriate litigation counsel, effective litigation management, efficient dispute resolution and good policyholder/member relations.  I also understand the wisdom of considering both loss control programs and risk sharing through appropriate reinsurance agreements.

For all of these reasons, I would be honored to serve on the Terrafirma Members Committee.