Friday, November 08, 2019

In preparation for the development of a reef insurance product in the Mesoamerican Reef (MAR) Region, the ISF funded two preparatory studies by WTW and MAR Fund. The overall objective of the project is to contribute to the conservation of the MAR region (Mexico, Belize, Guatemala, Honduras) by implementing a parametric insurance model for reefs to deliver quick financing for rapid response and reef restoration actions, after damages caused by hurricanes.

The InsuResilience Solutions Fund (ISF) supports the development of innovative climate risk insurance solutions by funding preparatory studies necessary for the development of the insurance concept as well as for assessing the feasibility of the envisaged solution.

In preparation for the development of a reef insurance product in the Mesoamerican Reef (MAR) Region, the ISF funded two preparatory studies. The studies have been prepared accordingly by Willis Towers Watson and MAR Fund.

Insurance for reefs is an innovative financial mechanism that can contribute to reef restoration and recovery. The insurance element is part of a larger programme of work to build long-term resilience of reefs and the livelihoods they support and protect along the entire Mesoamerican Reef.

The overall objective of the project is to contribute to the conservation of the MAR region (Mexico, Belize, Guatemala, Honduras) by implementing a parametric insurance model for reefs to deliver quick financing for rapid response and reef restoration actions, after damages caused by hurricanes.

Preparation study of the associated sustainability for the implementation of a parametric insurance instrument for reefs in the Mesoamerican Reef (MAR) Region
mar-reef-risk-financing_sustainability-study