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Terra Will Pay Insureds $1,000 Each To Attend Meeting in San Juan, Puerto Rico
Corte Madera, CA - Terra Insurance Company will pay $1,000 to each of its insured firms that sends at least one representative to the Spring (Annual) Meeting of
ASFE/The Best People on Earth. The meeting will take place in San Juan, Puerto Rico, April 10-12, 2008, at the Intercontinental San Juan hotel. Terra will conduct a shareholders
meeting at the same facility on Friday, April 11.
Terra Insurance Company will pay $1,000 to each of its insured firms that sends at least one representative to the Spring (Annual) Meeting of ASFE/The Best People on Earth. The
meeting will take place in San Juan, Puerto Rico, April 10-12, 2008, at the Intercontinental San Juan hotel. Terra will conduct a shareholders meeting at the same facility on Friday, April 11.
Mr. Coduto emphasized that the incentive is not a "free vacation." He said, "No company does as well as Terra by giving its money away. I can say with absolute confidence that the
management guidance and other information our owner/insureds will take away from the ASFE meeting will result in fewer claims. In fact, Terra invested more than $500,000 in professional
development expense reimbursements, subsidies, and rebates for its owner/insureds in 2007, in support of ASFE programs like Peer Review, BackYard Seminars, and Fundamentals of
Professional Practice. Given the cost of resolving claims, Terra's investment in prevention - through the professional development of its owner/insureds' personnel - pays dividends almost
immediately. Participation in ASFE meetings and other ASFE activities and programs is essential to our owner/insureds' success, and to Terra's success, as well."
Terra provides its professional liability insurance products to civil, environmental, and geoprofessional engineering firms that gross from $500,000 to more than $100 million annually.
Because Terra is a risk-retention group, insureds must also be the company's sole owners. According to A.M. Best Company - the internationally recognized insurance-company rating
organization - Terra is "the highest-rated risk-retention group in the United States." Best has given Terra a stated rating of "A, Excellent" and an implied rating of "A++, Superior." "I think it's
safe to say that Terra's owner/insureds are pleased with the company's performance, both as a source of insurance and as an investment," Mr. Coduto said.
The same firms that originated Terra, in 1968, also originated ASFE. ASFE is a not-for-profit association that develops programs, services, and materials its member firms apply to "prosper
through professionalism." "ASFE is unequalled," Mr. Coduto said. "Werequire our owner/insureds to participate in the group's activities and programs, such as Peer Review, and to use its
materials, as a condition of their insurability. The impact of those involvements is obvious."
More information about Terra and the products it offers, as well as free risk-management materials and a copy of the Terra "QuickApp," can be found at www.terrarrg.com, or by contacting
Terra Insurance Company, 2 Fifer Avenue/Suite 100, Corte Madera, CA 94925; tel. 1/800-872-0077 (in CA, 415/927-2901); e-mail terra@terrarrg.com.
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