Since releasing our report “Insurance underwriting with nature: Putting mangroves on the balance sheet”, we have been working with re/insurance companies in the Philippines to advance the pricing of nature-based coastal protection as part of their future business.
Watch insights from our workshop with over 50 participants of the Philippine Insurance and Reinsurance Association (PIRA) to discuss our proposed solutions, which we are very pleased to see moving forward:
1. Companies integrating the value of mangroves into risk modelling and insurance underwriting.
2. A collaboration to develop a mangrove insurance product in the Philippines.
3. A common policy between local insurance and global reinsurers for how to recognise the value of nature in risk reduction.
The session was a fantastic success and there were many takeaways, watch the video for a more detailed look.