The (Re)Insurance Industry’s Roles in the Integration of Nature-Based Solutions for Prevention in Disaster Risk Reduction—Insights from a European Survey

Roxane Marchal, Guillaume Piton, Elena Lopez-Gunn, Pedro Zorrilla-Miras, Peter van der Keur, Kieran W. J. Dartée, Polona Pengal, John H. Matthews, Jean-Marc Tacnet, Nina Graveline, Monica A. Altamirano, John Joyce, Florentina Nanu, Ioana Groza, Karina Peña, Blaz Cokan, Sophia Burke and David Moncoulon
Additional contact information
Roxane Marchal: Caisse Centrale de Réassurance, Department R&D, Cat & Agriculture Modelling, 157 boulevard Haussmann, 75008 Paris, France
Guillaume Piton: University Grenoble Alpes, IRSTEA, Centre de Grenoble, UR ETNA, 2 rue de la Papeterie, 38402 Saint-Martin-d’Hères, France
Elena Lopez-Gunn: I-Catalist, C/Borni 20, Las Rozas, 28232 Madrid, Spain
Pedro Zorrilla-Miras: I-Catalist, C/Borni 20, Las Rozas, 28232 Madrid, Spain
Peter van der Keur: Geological Survey of Denmark and Greenland (GEUS), Department of Hydrology, Øster Voldgade 10, DK-1350 Copenhagen, Denmark
Kieran W. J. Dartée: Field Factors, Van der Burghweg 1, 2628 CS Delft, The Netherlands
Polona Pengal: Institute for Ichthyological and Ecological Research–Revivo, Šmartno 172, 2383 Šmartno pri Slovenj Gradcu, Slovenia
John H. Matthews: Alliance for Global Water Adaptation (AGWA), 7640 NW Hood View Circle, Corvallis, OR 97330, USA
Jean-Marc Tacnet: University Grenoble Alpes, IRSTEA, Centre de Grenoble, UR ETNA, 2 rue de la Papeterie, 38402 Saint-Martin-d’Hères, France
Nina Graveline: University Montpellier, Institut National de la Recherche Agronomique (INRA), UMR Innovation, 2 Place Pierre Viala, 34000 Montpellier, France
Monica A. Altamirano: Deltares, Boussinesqweg 1, 2629 HV Delft, The Netherlands
John Joyce: Stockholm International Water Institute (SIWI), Linnégatan 87A, 115 23 Stockholm, Sweden
Florentina Nanu: Business Development Group (BDG), 80 Plantelor Str. Sector 2, 030167 Bucharest, Romania
Ioana Groza: Business Development Group (BDG), 80 Plantelor Str. Sector 2, 030167 Bucharest, Romania
Karina Peña: Field Factors, Van der Burghweg 1, 2628 CS Delft, The Netherlands
Blaz Cokan: Institute for Ichthyological and Ecological Research–Revivo, Šmartno 172, 2383 Šmartno pri Slovenj Gradcu, Slovenia
Sophia Burke: Ambiotek CIC, Leigh-On-Sea, Essex, Southend-on-Sea SS9 1ED, UK
David Moncoulon: Caisse Centrale de Réassurance, Department R&D, Cat & Agriculture Modelling, 157 boulevard Haussmann, 75008 Paris, France

Sustainability, 2019, vol. 11, issue 22, 1-24

Abstract: Nature-based solutions (NBS) are increasingly being considered as an option to reduce societies’ vulnerability to natural hazards, creating co-benefits while protecting ecosystem services in a context of changing climate patterns with more frequent and extreme weather events. The reinsurance and insurance industries are increasingly cited as sectors that can play a role to help manage risks, by improving disaster risk reduction (DRR) and loss prevention. This paper investigates how the (re)insurance industry could support the transition from a paradigm focused on ex-post responses to ex-ante risk reduction measures including NBS, in line with the Sendai Framework. This paper presents the results of a series of 61 interviews undertaken with the (re)insurance sector and related actors under the EU H2020 Nature Insurance Value Assessment and Demonstration (NAIAD) project. Methods based on a Grounded Theory approach indicate how this sector can play different roles in loss prevention, including ecosystem-based disaster risk reduction (eco-DRR). Results illustrate how the (re)insurance industry, under these roles, is gradually innovating by having a better understanding of hazards and mitigation. The findings of the study contribute to wider discussions such as the possibility of new arrangements like natural insurance schemes and evidence-based assessment of avoided damage costs from green protective measures, in Europe and beyond.

Keywords: natural hazard insurance; climate change adaptation; disaster risk reduction; nature-based solutions; nature assurance scheme; insurance value of ecosystems (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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