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Our Changing World Needs Insurance to Cover Your Risks. Do you have the right balance?

Our Changing World Needs Insurance to Cover Your Risks. Do you have the right balance? Meghan Mullee, Assistant Vice President, Nonprofit & Corporate Risk, Alliant Insurance Services, Inc. (VA) Robyn Carlton , Chief Executive Officer, Lookout Mountain Conservancy (TN)

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Our Changing World Needs Insurance to Cover Your Risks. Do you have the right balance?

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  1. Our Changing World Needs Insurance to Cover Your Risks. Do you have the right balance? Meghan Mullee, Assistant Vice President, Nonprofit & Corporate Risk, Alliant Insurance Services, Inc. (VA) Robyn Carlton, Chief Executive Officer, Lookout Mountain Conservancy (TN) Tom Kay, Executive Director, Alachua Conservation Trust (FL) Leslie Ratley-Beach, Conservation Defense Director, Land Trust Alliance (VT) WorkshopF01 | Saturday October 19 | 3:30 p.m. - 5 p.m. CLE and Qualifies for the Terrafirma risk management discount if senior staff or board attends #Rally2019

  2. Who’s here?

  3. WHAT HAVE YOU EXPERIENCED?

  4. Annual Insurance Assessment 4 Evaluate insurance program annually with your organizational risk management plan Have an annual board review of risk and adequate insurance Be familiar with your insurance policies Have a senior staff or experienced board member purchase your insurance Work closely with a good agent or broker

  5. Biggest Global Risks

  6. Record Losses PLACE PHOTO HERE

  7. Rethinking risk models Increased underwriter scrutiny Reviewing & increasing pricing Restricting availability of limits Possible declination based on geographic location in CAT zone (“catastrophe zones”) Exclusions for losses land trusts may have even failed to consider were possible. Climate Change is Changing Insurance What to Expect from the Industry

  8. Hurricane/Windstorm Did you think of…. Building/roof damage from high winds? Flood damage? Loss of revenue if building/properties are uninhabitable? Employees injured while preparing or clearing debris?

  9. Convective Storms Did you think of…. • Hail damage to vehicles? • Loss of revenue due to cancelled fundraising event? • Hiker injury due to lighting strike or flying debris?

  10. Winter Storm Did you think of…. Water damage from frozen/burst pipes? Roof collapse from weight of snow? An employee causing an auto accident while working during storm? Volunteer stranded at job site? Any special buildings you have?

  11. Flood, Storm Surge, Tsunami PLACE PHOTO HERE Did you think of…. Is your property in a flood zone? Does your landlord carry flood coverage? Any business income loss and disruption? Changes in migration patterns? FEMA is overhauling the current National Flood Insurance Program (NFIP) system. Will set premiums based on actual risk, rather than location in a 100 year flood plain.

  12. Earthquake, Land Slide, Mud Slide PLACE PHOTOS HERE Did you think of…. Earthquake is a standard exclusion on most insurance coverage. Separate coverage is available through a Difference in Conditions (“DIC”) policy. Know your risk. Not just California!

  13. Wildfire PLACE PHOTO HERE Did you think of…. • Fencing, signs and outdoor fixtures? • Properties inaccessible for extended period of time? • What if you are found responsible for a wildfire (accidental spark)? • What if a wildfire results from conducting a controlled burn? • Have you thought about large changes in migration patterns?

  14. Where are we vulnerable? What are we missing? DISCUSS STRATEGY Determine which risks to keep vs transfer Likelihood of occurrence vs. severity of potential loss ESTABLISH A PLAN Identify chain of command, assign tasks Know who to call for help Annual insurance coverage review Disaster Recovery – Be Prepared IDENTIFY EXPOSURES

  15. Water/fire/smoke remediate teams. REPORT THE CLAIM Know who to call and have numbers available in multiple locations. DOCUMENT, DOCUMENT, DOCUMENT Inventory what was lost File & submit estimates & receipts along the way Document additional steps taken Disaster Recovery – The Aftermath MITIGATE

  16. How did you handle disaster? Lookout Mountain Conservancy theft and business interruption Alachua Conservation Trust Irma recovery, assessment and claim

  17. New types of lawsuits such as global warming and climate change Drive industry to reassess coverage Increase Prices Drives reinsurance to increase premiums for insurers Causes uncertainty in the market ADVOCACY, INNOVATION & ALTERNATIVES Litigation is an option but expensive Creative solutions that benefit all Fit into the land trust model Carbon markets Ecosystem services Grasslands, marine, forest offsets and others Floodplain buyouts The Legal Climate and Expected Change INSURANCE INDUSTRY

  18. Minimize Your Risk Thank you for your dedication to conservation permanence!

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