Nature Restoration & Conservation Insurance Initiative

What is the NatReCo Initiative?

It offers innovative (re)insurance solutions to support nature-resilient projects that address and/or mitigate societal challenges like climate change, food and water security, and sustainable agriculture. It has been developed by SCOR to improve resilience and to support the transition to a better tomorrow.

About the Ecological Restoration Insurance Solution

The first solution developed by SCOR as part of the NatReCo Initiative, it focuses on projects which intend to assist the recovery of the biodiversity and integrity of a native ecosystem which has been previously degraded (that is it has been altered in composition, structure or function).

Healthy ecosystems are essential for maintaining the planet’s biological diversity and the natural capital that sustains human life and well-being because of the ecosystem services they provide to societies. However, ecosystems are rapidly declining with some at risk of collapse.

There can be reluctant to finance nature-related projects for a variety of reasons including the inherently unpredictable and dynamic nature of ecosystems and the drivers that impact them, uncertainty about returns on investments and the lack of governance and standards around ecological restoration projects.

The Ecological Restoration Insurance Solution proposes to bridge the ‘gap’ between the need and desire for financing ecological restoration projects by de-risking financing opportunities.

About the Restore product

The first insurance product of the Ecological Restoration Insurance Solution which has been developed in collaboration with the international non-profit organization the Society for Ecological Restoration, it protects ecosystem restoration projects. It is designed to cover, following an insured event, the financial costs associated with creating the restoration conditions necessary to return an ecosystem to its planned recovery trajectory, having reviewed the ‘quality’ of the project using SCOR’s own standards-based approach.

In bringing this insurance product to market, SCOR’s own internal experts are supported by a diverse group of advisers with decades of technical experience in this field, including a Chair Emeritus, IUCN, Commission on Education and Communication; a Climate Smart Agriculture Expert & Entrepreneur; a former CEO of NatureServe, a spinoff of The Nature Conservancy; an Executive Director of SER and International Policy Lead at SER; a Chair Emeritus, IUCN, World Commission on Protected Areas; a former Senior Partner of an international law firm; and a Senior Conservation Scientist.

"We are delighted to present this insurance product, which demonstrates SCOR’s innovative product development capabilities and endeavors to address global issues which affect societies by de-risking financing for ecological restoration. We believe insurance has an opportunity to play an important role in contributing to the actions required to mitigate and pre-empt the ongoing environmental challenges we are facing,”

Jean-Paul Conoscente, Chief Executive Officer of SCOR P&C

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