On November 18th, 2020 the 3rd Stakeholder Workshop, within the project „Holistic Resilience – Forest Insurance Italy“, organized by the University of Trento, Fondazione Edmund Mach and Genillard & Co., was launched as a virtual online event.
During the workshop nine experts, from Asnacodi – Associazione Nazionale Condifesa, Dedagroup, the University of Trento, the Fondazione Edmund Mach and Genillard & Co., addressed various aspects concerning the topic of forest risk insurance. Altogether, 50 delegates from different fields including insurance and reinsurance, forest ownerships and administration, universities and research institutions participated in the workshop online.
Within the scope of the workshop, the experts highlighted several critical aspects of forest insurance and answered key questions on the topics:
- Holistic Resilience project between public and private property in Trentino Alto Adige
- The forest in South Tyrol
- Forest owners between hazard perception and forest insurance. Survey result in the province of Trento and Bolzano
- Risk mapping: future results and climate scenarios
- Data integration and analysis to support risk management
- Risk management and sharing. What best practice examples exist, and which insurance schemes are desirable for Trentino-Alto Adige?
The workshop closed with an open panel discussion in which the delegates critically reflected and discussed the various impressions raised. Finally, the most important results were collected and compiled.
1. Impressions concerning the implementation of possible forest insurance systems: A majority of the participants agreed that mutualization in the search for insurance cover is a sound solution. An adaptation to existing agricultural risk systems is possible.
2. Views on the conditions for subscription to a forest insurance system: Prerequisites are the need for objectivity and transparency of data. The contribution of the state would hereby provide an incentive. Additionally, stakeholders explicitly expressed the need for public authorities and community support. Finally, the availability of models, data and supporting technologies is considered essential for the start of the creation of insurance scenarios.
3. Further considerations of ideas and proposals for cooperation: At this stage, the evaluation process is still ongoing. Stakeholders agreed that both solutions, indemnity and parametric solutions, are possible but strongly depend on the type of client and the nature of the risk.
In summary: The vast majority of the delegates expressed a need for an insurance scheme. Following this positive feedback, further steps to be taken now, are the final definition and concretization of an insurance scheme which is specifically tailored to meet the requirements of the regions Trentino and Alto Adige, in cooperation with all participating partners, in order to successfully conclude the project. We look forward to continuing this valuable work and to support implementations coming into fruition in 2021.
If you have any questions or suggestions for discussion of our workshop contents and results, you are kindly encouraged to contact us.
We would like to thank all stakeholders for their participation and for their contribution to the promising results!