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Case Study

Mitigation Financial Assurance

COUNTRY/REGION

United States

START - END DATE

Ongoing

REALM

Terrestrial

Great American Insurance Group specialises in bonds and insurance for conservation and ecological restoration projects. The company underwrites performance bonds and insurance policies that meet financial assurance requirements of federal and state regulators including the US Army Corps of Engineers, US Fish and Wildlife Service, and state environmental agencies. Covered activities include stream and river restoration, wetland restoration, riparian restoration, habitat preservation, native species planting, and invasive species removal. The company serves mitigation banks, permittee-responsible mitigation, in-lieu fee programmes, and conservation banks, with limits tied to performance milestones rather than calendar dates.

Insurance trigger type

The mechanism by which an insurance payout or financial response is activated

Indemnity

Insurance scheme target

Beneficiary of Insurance Scheme

Real Economy, Land Managers

Insurance scheme developer

The type of institution(s) providing insurance or guarantees

Private

Insured risk

The primary category of risk addressed or managed by the insurance solution.

Performance and Delivery Risk

Insurance product type

Adapted from UNEP FI framework subcategories

Insurance for conservation, restoration and NbS delivery, implementation, performance and management

Partners:

Great American Insurance Group

Referred by:

NATURANCE