SCOR has launched ‘Manage’, the second product in its Ecological Restoration Insurance Solution, which Harmender Singh Kalirai, Chief Transaction Officer at SCOR P&C, described as “the next evolution of the Solution.”
SCOR’s Ecological Restoration Insurance Solution, part of its NatReCo Initiative, arrives at a critical time. With many ecosystems rapidly declining and even at risk of collapse, there is growing recognition of the importance of healthy ecosystems and the substantial financing required for ecological restoration. However, because of factors such as the inherent unpredictability of ecosystems, there can be a reluctance to finance nature-related projects.
The Ecological Restoration Insurance Solution aims to get a project back-on-track when its planned recovery trajectory has been disrupted by a pre-defined peril, improving its prospect for successful completion.
By de-risking financing opportunities, the Solution bridges the gap between the need and the desire to finance ecological restoration projects.
-->
In an interview with Reinsurance News in June 2025, Harmender discussed the launch of SCOR’s Ecological Restoration Insurance Solution, with Restore as its initial product.
Expanding on this, Harmender recently explained that, “The first product, the ‘Restore’ product, covers the phase of the ecological restoration project which focuses on the implementation of the conditions for recovery, in line with the project plan,” explained Harmender.
“The Manage product covers the ongoing management phase of a project, which focuses on maintaining and improving the conditions for recovery that have been implemented,” Harmender said. “This allows the ecosystem integrity level to continue to increase, which in turn lowers the vulnerability level.”
He noted that while Restore and Manage naturally complement each other, they can also function as standalone products depending on where a stakeholder is in the project timeline.
Harmender explained, “The Manage product adopts the same features as Restore, including the standards-based approach developed by SCOR in collaboration with the international non-profit organization the Society for Ecological Restoration (“SER”).
“SCOR and SER assess the “quality” of a project to make sure that SCOR only insures projects which advance ecological restoration, promote equity and equality, respect cultural diversity and commit to integrity and transparency in all actions relating to ecological restoration. SCOR will also engage SER-certified practitioners globally to support the claims evaluation process.”
Jean-Paul Conoscente noted at SCOR’s Innovation Days, “At SCOR, we understand that an ecological restoration project can take years to complete, and that the level of risk changes throughout the project. That is why we have developed, and will continue to develop, products which we believe will appropriately support stakeholders on their project journey and which reflect the risks their project is facing.”
About the Author
