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Case Study

TerraFirma Risk Retention Group

COUNTRY/REGION

United States

START - END DATE

2011 - Ongoing

REALM

Terrestrial

Terrafirma is a risk retention group established by the Land Trust Alliance in 2011 to help land trusts defend conserved lands against legal challenges. Land Trusts face a range of risks, including but not limited to trespassing, successors not wanting to conserve nature, property developers or IRS scrutiny. Legal defence costs can surpass US$ 1 million in some cases, yet only 4% of land trusts can fund an appeal > US$ 150,000. Terrafirma operates a pooled risk-insurance model across member lend trusts for financial protection against litigation costs, professional support and risk prevention. This collective approach aims to strengthen donor/regulatory confidence in land trusts’ ability to uphold permanent conservation commitments.

Insurance trigger type

The mechanism by which an insurance payout or financial response is activated

Indemnity

Insurance scheme target

Beneficiary of Insurance Scheme

Philanthropies

Insurance scheme developer

The type of institution(s) providing insurance or guarantees

Private

Insured risk

The primary category of risk addressed or managed by the insurance solution.

Liability and Policy Risk

Insurance product type

Adapted from UNEP FI framework subcategories

Insurance for conservation, restoration and NbS delivery, implementation, performance and management

Partners:

Land Trust Alliance & members

Referred by:

UNEP FI

Sources:

Terrafirma