Risk Reduction From Forest Management Accounted For in First-Of-Its-Kind Wildfire Resilience Insurance
This report details the analytics behind a first-of-its-kind wildfire resilience insurance model that incorporates the risk-reduction benefits of forest management into insurance pricing and underwriting. Developed by TNC, Willis, and UC Berkeley partners, the approach aims to improve insurance availability and affordability in California.
Subject Tags
- Wildlife
- Climate adaptation
- Climate resilience
- Forests
Introduction
This technical report presents the analytics used to develop a pioneering wildfire resilience insurance solution that accounts for the reduction in wildfire risk achieved through forest management. Created through collaboration among The Nature Conservancy, Willis, and the UC Berkeley Center for Law, Energy & the Environment, the approach seeks to improve insurance availability and affordability in California while recognizing the value of proactive forest management and resilience investments.