Wildfire Resilience Insurance

Parametric Insurance for Wildfire 

NatureX’s parametric insurance offers a new form of resilience to wildfire. Customized precisely to clients’ exposure needs, we provide a straightforward, satellite-based solution that covers the entire risk season using a combination of satellite imagery, long-term climate, and weather data. 

We leverage the latest scientific research to assess wildfire exposure and design bespoke covers for our clients. Insureds can be sure of what they will receive in the event of a wildfire throughout the risk period, with simple and transparent structures based on the event of a wildfire burning within a bespoke circle or on the number of hectares burnt and no exclusions of fires based on size.

Global Wildfire Risks Surge

UN Predicts 14% Increase by 2030, NatureX Offers Parametric Solution Amid Rising $11B Costs

W H Y I S T H I S R E L E V A N T

Wildfires have had a devastating impact globally, and the UN projects a global increase of 14% in extreme fires by 2030. Throughout 2023, the peril cost $11 billion. As climate volatility heightens, wildfire risk is increasing, burning more often, more intensely, and for longer, with previously unexposed areas experiencing events like never before. 

As wildfire exposure to forestry and properties becomes exacerbated, many clients seek additional sources of capacity as a supplement or alternative to existing coverage. NatureX’s parametric wildfire cover offers an alternative risk transfer solution for particularly exposed industry sectors.

W H O I S I T F O R

Forestry investments, timber firms, pulp & paper companies, hospitality, and high-value properties looking for coverage against wildfire risk anywhere in the world.

H O W I T W O R K S

S T E P 1

Assess

We evaluate the client's wildfire risk, leveraging our proprietary risk model. Discounted premiums are given to ecological forestry practices such as prescribed burns and removing smaller trees and other vegetation in overgrown forests.

S T E P 2

Customize

We then design a customized cover that fits the client's needs. The payout structures are indexed according to the burned area. 

S T E P 3

Monitor

Upon policy inception, we continuously monitor the insured's location for wildfires to determine whether a qualifying fire has occurred.

S T E P 4

Payout

Insured clients receive a payout within days of the concluded coverage time frame, accelerating financial recovery and reconstruction.

Do you want to learn more about this case?

Fill out your information to access our Wildfire Resilience Case Study