In a joint collaboration between the United Nations Development Programme (UNDP), the Province of Misiones in Argentina, ICMIF member Río Uruguay Seguros (RUS) and local civil organisations, an innovative financial solution to conserve the largest cat in the Americas, the jaguar, has been presented. The aim is to also protect local livestock production and strengthen the possibility for coexistence between the jaguar and human beings. A pilot test will be carried out in the Municipality of Andresito.

The Government of the Province of Misiones, in partnership with the United Nations Development Programme (UNDP) in Argentina, launched the world’s first insurance specifically designed to protect the jaguar (Panthera Onca/Jaguar) and the rural communities that live alongside it.

The launch ceremony was held this week at the Government Residence of the Misiones province and was attended by Juan Carlos Godoy, Executive President of Río Uruguay Seguros; Facundo López Sartori, Minister of Agriculture and Production; Emanuel Grassi, Executive Director, Instituto Misionero de la Biodiversidad IMiBio; and Facundo Ringa, Undersecretary of Ecology of the Ministry of Ecology and Renewable Natural Resources. On behalf of UNDP, the Coordinator of Inclusive Insurance Projects, Marcelo Borré, also participated.

Juan Carlos Lucio Godoy, Executive President of Río Uruguay Seguros (RUS) said: “Insurance should not only protect assets, but also be a tool to take care of what makes us unique as a region and go one step further. It allows us to support livestock producers and collaborate in actively financing the protection of biodiversity.”

The Minister of Agriculture, López Sartori, said: “this insurance will take care of and protect our biodiversity, as well as guaranteeing [livestock] production.” At the same time, the Minister highlighted the work of the different organisations that had worked together to develop this insurance, which he said is unique in the world.

Borré thanked the participants for their presence and said: “we want to be an example for the region, with concrete proof that the insurance sector can create solutions for the conservation of biodiversity and livelihoods at the same time.” In addition, he spoke on behalf of María Eugenia Di Paola, UNDP Programme Coordinator to highlight the importance of the launch saying: “today we are launching the first insurance in the world specifically designed to promote coexistence between livestock production in the province and one of its emblematic animals: the jaguar”.

This solution, developed by the RUS insurance company with the support of NGOs specialised in the conservation of the jaguar species, seeks to deter reprisals by people against jaguars if they kill livestock or pets, contributing to the prevention of the extinction of this species.

Why the jaguar must be protected

The jaguar is a critically endangered species, with less than 250 specimens in Argentina, of which about 90 animals live in the province of Misiones.

Their disappearance is largely due to their hunting in retaliation for having preyed on and killed livestock or pets. Despite being protected by various laws, the risk of extinction persists if conflicts of coexistence are not addressed in a concrete and localised way.

The jaguar is an essential component in the natural ecosystem according to the developers of this insurance programme. It regulates herbivore populations, prevents erosion and protects the biodiversity of the entire forest. Recent studies value the contribution of the jaguar to the local ecosystem at up to USD 4 billion dollars per year in Latin America.

What is jaguar insurance?

The insurance, launched by the UNDP and the Government of the Province of Misiones, will have its first stage of implementation in the municipality of Comandante Andresito (in the province of Misiones) and constitutes a pioneering solution at a global level. The product is acquired by the provincial government, provided free of charge for citizens, without a franchise and claims are appraised by an NGO expert in biodiversity conservation.

In the event that it is proven that a jaguar has killed livestock and/or pet(s), the affected producer will receive prompt economic compensation, which is supported by a plan of regular technical visits to improve livestock management and prevent future incidents.

This unique jaguar insurance cover will be monitored and evaluated to consider its extension to other areas of the country and Latin America and the Caribbean, where the coexistence between humans and the big cat is also under tension. Experience seeks to demonstrate that it is possible to reconcile production, conservation and development with adequate financial instruments.