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Ping An P&C – Mangroves Index Insurance

In 2023, Ping An Property & Casualty launched China’s first mangrove carbon sink index insurance, providing risk protection and disaster prevention services for mangrove carbon sinks at Shenzhen’s Futian Natural Reserve. The product uses an innovative measurement method combining remote sensing, on-site sampling and quadrat surveys to reliably determine carbon sink amounts. The protection plan integrates insurance mechanisms with ecological maintenance — indexing carbon sink losses due to mangrove damage and determining compensation based on the loss of mangrove carbon sink value, with funds directed toward post-disaster ecosystem protection/recovery.

Start - End Date
2023-ongoing
Country/Region
Asia Pacific
Realm
Terrestrial

Project details

Spatial Scale

Local

Insurance Trigger Types

Parametric/Index

Insured Risks

Performance and Delivery Risk, Risk to Natural Assets and Ecosystems

Insurance Scheme Targets

Local Communities, Private - Real Economy

Insurance Scheme Developer Types

Public-Private-Partnership

Insurance Product Types

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

Partners

Ping An P&C, Futian Natural Reserve Administration

Referred by

UNEP FI

Sources

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