NAture Insurance value: Assessment and Demonstration (NAIAD)

The NAIAD project aims to operationalize the insurance value of ecosystems to reduce the human and economic cost of risks associated with water such as droughts and flooding. This is done in cooperation with municipalities and key insurers through development and testing of concepts, tools, applications and instruments necessary for mainstreaming “Natural Assurance Schemes”.

In the project, nature based solutions (NBS) approaches to flood and drought risks are developed for 9 demo sites across Europe and replicable methods for their implementation are delivered. To support the implementation of NBS, financial instruments and novel business models are developed. In addition the project contributes to the academic knowledge on NBS planning, increasing the capacity of policy decision makers to integrate NBS into development planning.

The main expected results of the projects are:

• Scientific evidence and methods –Full operationalization of the insurance value of ecosystems is enabled by providing a robust scientific underpinning for its’ quantification, qualification and valuation
• Enhanced natural capital - Insurance capacity of ecosystems and natural capital are enhanced through the contribution to the development of policies and the increased deployment of multi-purpose and flexible nature-based solutions
• Business models - insurance value of ecosystems is activated into conventional and new types of insurance policies and innovative business models
• Policy - supporting the objectives of the EU Adaptation Strategy – climate resilient investments and the priorities of other EU and international policies (e.g. EU Green Infrastructure Strategy and the Sendai Framework for Disaster Risk Reduction)

ECCA 2021 - Climate Adaptation solutions video - NAIAD