Conservation Defense Insurance

The Land Trust Alliance announced the official birth of Terrafirma Risk Retention Group LLC on April 18, 2011. Since that day, the Land Trust Alliance has obtained tax exempt status for Terrafirma, obtained the necessary insurance license and registrations, raised over $4 million in capital, and launched the official Terrafirma website at www.terrafirma.org. 

Land trusts interested in obtaining coverage for conservation easements, trail easements, or properties owned outright can apply online now. The first-time sign up process is detailed and includes a registration fee. However, information will be saved from year to year and the registration fee is only paid once - so next year’s application should be much easier.

Participating land trusts will pay an annual fee of $60 per property for coverage as well as an initial registration fee to join the Terrafirma Risk Retention Group LLC. Accredited land trusts and land trusts with senior personnel trained in risk management will qualify for significant discounts on the annual fees.

Upcoming Dates and Deadlines for Terrafirma Are As Follows

• January 14, 2013: Last Risk Management webinar to obtain extra $1 discount before the filing deadline
• February 1, 2013: Deadline to submit application and annual payment
• March 1, 2013: Inception date for 2013-2014 Terrafirma policies

Policies cover up to $500,000 in legal fees annually to defend the threatened conservation values of easements and conserved lands.  Because land trusts have committed to protect the conservation values of their properties, their liability begins as soon as those values are threatened - whether by third party trespass, landowner violation, or government action. Therefore, unlike other liability insurances, Terrafirma coverage begins before the land trust is sued. If necessary, Terrafirma can even cover the initiation of a lawsuit against the party injuring the property.

Terrafirma was formed by the Land Trust Alliance in 2011 to help land trusts defend their conserved lands from legal challenges. It is owned by its members to insure the costs of upholding conservation easements and fee lands held for conservation purposes when they have been violated or are under legal attack, and to provide information to those land trusts on risk management. This is the first far-reaching, national initiative to ensure the permanence of conservation undertaken by the land conservation community. This insurance program is a ‘risk retention group,’ a mutual insurance arrangement whose business is limited to insuring its members, all of whom are members of the Land Trust Alliance.

Many thanks for supporting this idea by committing your land trust to participate in this program. You have helped make history!

Insurance Forms

• Policy
• Summary
• Sample Application

Organizational Documents

• Terms and Conditions (382KB, Doc)
• Summary of Legal Structure (209KB, Doc)
• Certificate of General Good (450KB, PDF)
• Articles of Organization (64KB, Doc)
• Operating Agreement (405KB, Doc)
• Conflict of Interest Policy (54KB, PDF)
• Organizational Schematic (46KB, PDF)
• Fundraising Prospectus (451KB, PDF)
• Members Committee Representatives and Regions (159KB)
• Members Committee Regional Map

Conservation Defense Insurance Background

• Program Documents
• Background and Next Steps
• Threats to Permanence: Why Take Action?
• Eligibility Requirements Criteria List
  
• Exclusions from Coverage
  

Webinars

Webinar Archive

• Preparing Your Land Trust to Manage Risk Effectively: May 24, 2012
• Preparing Your Land Trust to Manage Risk Effectively: April 10, 2012
  View the slides.
• Preparing Your Land Trust to Manage Risk Effectively: April 12, 2012
  View the slides.

• Terrafirma Insurance Eligibility Requirements: February 23 and 28, 2012
  View the slides or listen to the recording.

• Conservation Defense Insurance Legal Structure Part II June 2011 (audio)
• Conservation Defense Insurance Structure March 2011 (PPT)
• Conservation Defense Insurance Structure May 2011 (PPT)

View the risk management Collection on The Learning Center.

The Learning Center is a service offered to Alliance member land trusts, partners, and individual members at the $250 level and above.

Questions? We have the answers.

• Why should my organization sign-up?
• How do I convince my board to do this?
• I'm convinced! How do I sign-up?

How Much Has Your State Committed?

Congratulations and thanks to the 463 land trusts from 47 states and D.C. who committed 18,411 conservation easements and fee owned parcels to the proposed conservation defense insurance program.

Haven't committed yet? The sooner your land trust enrolls, the more input you will have on structure, governance, policy details, and other start-up mechanics. We want your input!

See the complete list of committed land trusts

Remember: Accreditation is not necessary in order to participate.  This program is open to all land trusts.  And as we proceed with raising the $4 million in capital, we will seek these funds from foundations and major donors, not from land trusts.

For more information, call or write to Leslie Ratley-Beach, Land Trust Alliance Conservation Defense Director at lrbeach@lta.org or 802-262-6051.  We are all in this together and are stronger for it!

Crunch the numbers- insurance program costs