DUAL Launches First Biodiversity Net Gain Insurance

DUAL has launched a new insurance product to support biodiversity net gain and encourage sustainable development. The company wrote this first-of-its-kind policy for the Highlands Rewilding Bunloit project at the Bunloit estate in Scotland’s Highlands. The product aims to protect habitats affected by biodiversity loss and to secure long-term ecological benefits.

A New Type of Biodiversity Insurance

DUAL designed this insurance specifically to support biodiversity uplift. The policy differs from products that focus on carbon credit capture. Instead, it centers on natural capital and provides landowners with assurance that their land will retain economic value, regardless of how biodiversity progress develops over time. As a result, the product gives landowners a way to access capital from investors who might otherwise be out of reach financially. This access can help landowners develop natural capital initiatives.

At the same time, the policy offers confidence to buyers of carbon units and biodiversity units. DUAL states that these units are protected by a comprehensive insurance programme.

How The Policy Works At Bunloit

DUAL’s insurance policy provides coverage to the Highlands Rewilding Bunloit project to protect and restore habitats. During the coverage period, Highlands Rewilding will sell biodiversity units and carbon units. DUAL’s insurance backs those units by covering the cost of acquiring substitute units if that becomes necessary. This coverage ensures that the insured can meet contractual obligations tied to the units.

Statements From DUAL

Simon White, Underwriting Director and Lead Underwriter for Environment Climate and Innovation at DUAL UK, said the Bunloit project reflects growing demand from developers for insurance solutions that address biodiversity and carbon obligations and liabilities. He also noted that corporate stakeholders are increasingly engaging with nature markets because they recognize their urgency and potential. White added that sustainable development requires the biodiversity market to scale, and he described insurance as having a key role in unlocking that growth. He characterized the Bunloit policy as a significant step toward enabling nature-positive development and investment.

Simon McGinn, CEO of DUAL UK, said managing general agents bring deep expertise and innovation for complex or emerging risks. He connected that role to businesses involved in biodiversity and rewilding initiatives. McGinn explained that DUAL’s entrepreneurial approach supports bespoke insurance solutions that unlock investment and enable nature-positive development. He said this product reflects DUAL’s commitment to growing the UK’s nature markets and supporting sustainable progress through tailored risk management.

Context In England

DUAL describes the policy as the first comprehensive cover brought to market since the 2021 Environment Act. The Act mandated that all new developments in England deliver a minimum 10 percent biodiversity net gain compared to pre-development levels.

The press release states that England’s biodiversity net gain market is projected to reach nearly £3 billion by 2035. It also reports that since biodiversity net gain regulations took effect, about 7,500 planning applications have included these requirements. Around 2,000 new applications reportedly arrive each month.

Context In Scotland

In Scotland, officials are finalizing the market framework for nature recovery. The framework is expected to require landowners with holdings over 1,000 hectares to demonstrate how they are enhancing biodiversity.

Highlands Rewilding works with landowners to build nature-positive and profitable land use strategies. The organization enables landowners to monetize natural assets by selling carbon credits and biodiversity credits to developers.

Statement From Highlands Rewilding

Jeremy Leggett, CEO of Highlands Rewilding, said the company aims to monetize its own natural capital while also helping establish natural capital as a trustable and investable asset class for the wider industry. He said the first insurance policy should break new ground in that effort.

Leggett acknowledged that insurance premiums will reduce investor returns. However, he said insurance will increase the real value of the offering by building confidence among buyers, landowner partners who share profits, and local communities that receive added prosperity in multiple ways.

Closing Summary

DUAL’s new biodiversity insurance policy supports the Highlands Rewilding Bunloit project by protecting habitats and backing the biodiversity and carbon units the project sells. The company positions the product as the first insurance solution designed around natural capital, and it links the launch to regulatory and market developments in England and Scotland. Through this policy, DUAL and Highlands Rewilding present insurance as a tool that can help landowners pursue biodiversity uplift while reinforcing confidence for investors and unit purchasers.