ITEA is the Eureka Cluster on software innovation
ITEA is the Eureka Cluster on software innovation
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ForestRe Limited

ForestRe Ltd. is a private company formed in 2003 and is based in London. Currently FRe works within an agency structure (Specialty MGA UK) while at the same time and independently of that agency, participates in European research and development projects into the nature of risk and tools for the modelling and mitigation of that risk. Much of this has been part of the UK R&D programme, or more recently the EU Horizon programmes.

International network

Over the last 20 years FRe has developed a global network of brokers that generate forestry and agro-forestry risk transfer business. Enquiries come in from over 50 countries, and business is transacted in 30 of these countries. ForestRe has developed with academic institutions easy-to-use EO tools that measure and map burn scar on forestry cover over 20 years for each client as they approach the insurance markets. Similar tools are being developed for mapping of historic wind damage on commercial forest enterprises. This is highly localised risk mapping of specific land cover types and risk is assessed with knowledge of the daily management of the enterprises by their owners or local communities. 

Industry links and support

FRe through its contractual reinsurance support from Liberty Mutual in Paris, provides insurance and ‘places’ the larger risk with supporting reinsurers across Europe such as SwissRe, HannoverRe, PartnerRe, Amlin, MunchichRe  QatarRe, Scor, EchoRe as well as reinsurers within the Lloyd’s (of London) market and many others. 

The often-catastrophic nature of agroforestry losses has persistently driven many of the world’s main reinsurers away from the conventional indemnity forest insurance sector, As parametric insurance products are designed and promoted, this withdrawal of insurance capacity is slowly being reversed as risk pricing is based on independent data from verifiable sources. 

Forestry enterprises face risks in the areas of production, natural resources (primarily soil stability and quality and water quality and quantity), finance, marketing and price. To some extent insurance can contribute to the solutions to many of the risk areas. As the portfolio develops over the long term then additional multi-line risks may be accepted that might include the political and credit risk associated with these projects. 

Small and Medium sized Enterprise
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Project participation

ITEA Call 2022
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Natural Disaster Risk and Assessment Platform