INSIDERS | Insurance to Enable Nature-based Solutions for Wildfire Risk Reduction
Wildfires are becoming increasingly frequent and severe due to changes in climate, weather patterns, vegetation, and land use. These events pose growing threats to human safety, ecosystems, and economies across large regions. While suppression remains the dominant response strategy, there is a rising recognition that nature-based solutions (NbS) are essential for preventing wildfires, restoring resilient landscapes, and reducing long-term risk.
This Lunch Break Seminar, organised by IIASA in the framework of NATURANCE, explores how the insurance sector can enable the transition from reactive fire suppression to proactive, prevention-focused NbS.
The session addresses key questions:
- How are wildfire risks evolving?
- What new developments are shaping wildfire insurance models?
- Which NbS can effectively reduce wildfire risk?
- And how can insurers leverage underwriting and investment activities to support these solutions?
Despite growing awareness of rising wildfire risks, investments in prevention still lag behind. Financing remains a major barrier: NbS require long-term, stable funding streams and strong collaboration between insurers, policymakers, researchers, and local communities. Recent insights underscore the importance of integrating NbS directly into insurance frameworks, recognising these measures as valuable assets capable of reducing losses, improving resilience, and delivering co-benefits for nature and people.
This session will highlight emerging approaches, real-world examples, and the evolving role of insurers in advancing wildfire NbS — showcasing how proactive risk management can create healthier, safer, and more resilient landscapes.
Speakers
Dr. JoAnne Linnerooth-Bayer
Emeritus Research Scholar, IIASA Equity and Justice Group
Expert in global change, extreme event risk, NbS for risk reduction, and disaster risk financing. She is a founding member of the Munich Climate Insurance Initiative and has contributed to multiple IPCC assessments.
Dr. Daniel Bannister
Weather & Climate Risks Research Lead, WTW
He leads research and academic partnerships for the Willis Research Network, bringing cutting-edge science into insurance analytics. His work covers wildfire modelling, climate hazards, and extreme event analysis across global regions.
Dr. Saskia Keesstra
Designer Producer Land Use Transformation, Climate-KIC
A leading expert on NbS for forests and climate-neutral regions, and contributor to the EEA’s Nature-based solutions for fire-resilient European forests. Her work spans climate adaptation, soil management, forestry, and sustainable land use.
Dr. Timothy Foreman
Research Scholar, IIASA; Assistant Professor, Vienna University of Economics and Business
His recent work focuses on how finance can support climate and nature goals. As part of NATURANCE, he co-developed a taxonomy of insurance activities that enable NbS, with a focus on scaling innovative models.