The Nature Conservancy (TNC) has purchased the first-ever coral reef insurance policy in the United States—for the benefit of Hawai‘i’s reefs. The policy will provide funding for rapid repair and restoration of coral reefs across Hawai‘i following hurricane or tropical storm damage.
In 2019, TNC and partners developed the world’s first reef-insurance policy specifically around hurricane damage, a major risk to coral reefs, in Quintana Roo, Mexico. Proceeds from that policy were used to repair damage from Hurricane Delta. Since then, the Mesoamerican Reef (MAR) Fund, working in collaboration with Willis Tower Watson (WTW)’s Climate and Resilience Hub, has built out a parametric insurance program
